The JSE Securities Exchange South Africa was stuck in flat territory, albeit with a positive bias, at noon on Thursday. Dealers said activity had been largely rand driven, with the renewed weakness in the currency providing a boost.
Just after midday the all share index was 0,16% higher, the all share industrial index was 0,22% stronger, the resources index added 0,25%, the gold index was 0,82% stronger, the platinum index was up 0,50% and the banks index was 0,28% in the black. The financial index was flat.
The rand was trading at 6,96 to the dollar from 6,93 when the JSE closed on Wednesday and gold was quoted at $382,75 an ounce from $378,65/oz at the JSE’s last close.
“It has been a pretty dull day so far. The market opened firmer and has since moved into flat territory. The rand has moved softer and this is supporting some resources and dual-listed counters,” a dealer said.
AngloGold dominated the upside on the all share index, jumping 2,38% or R6,50 to R279,50, followed by SABMiller, which added 1,08% or 65 cents to R60,80.
Other big advancers on the day included Sasol, which gained 65 cents to R93,85, Standard Bank was 25 cents higher at R34,15 and Steinhoff was 6,43% or 45 cents stronger at R7,45.
Anglo American added 20 cents to R144,50, Netcare was 4,57% or 19 cents firmer at R4,35 and Impala gained R3,00 to R602,00.
PPC jumped 6,31% or R7,75 rand to R130,50 after earlier reporting a stellar set of results and announced a special dividend. PPC reported a 38% jump in headline earnings per share to 1 154 cents for the year ended September 30 from 838,3 cents a year ago. The company declared a final dividend of 550 cents per share and a special dividend of 650 cents per share. This makes a total of 1 375 cents for the year, up 21% from the 1 135 cents a year ago.
Also of interest, Woolies added 1,48% or 10 cents to R6,85 and Iscor ticked up 1,83% or 40 cents to R22,31.
MTN Group continued on its losing streak, shedding 2,06% or 50 cents to R23,80 while BHP Billiton gave back 20 cents to R54,20.
Sanlam slipped 1,14% or 10 cents to R8,70 and Old Mutual was 5 cents weaker at R11,95.
McCarthy Limited plunged 36,73% or 18 cents to 31 cents after the announcement on Wednesday that services group Bidvest is seeking to acquire all of the ordinary and preference shares in the motor retailer. Bidvest is offering McCarthy shareholders 33 cents a share.
Bidvest was 15 cents firmer at R42,70. – I-Net Bridge