The JSE Securities Exchange South Africa (JSE) inched firmer in listless trade on Friday, with market activity on the subdued side as a result of the Thanksgiving holiday in the United States on Thursday.
Just after noon the all-share index was 0,27% higher, the all-share industrial index was 0,43% stronger, the financial index had added 0,57%, the gold index jumped 0,64% and the banks index was 1,08% in the black. On the downside, the platinum index shed 0,39% while the resources index was flat.
The rand was trading at R6,4050 to the dollar from R6,43 when the JSE closed on Thursday, while gold was quoted at $398,25 an ounce from $395,40/oz at the JSE’s last close.
“It has been a very quiet day so far, with many players remaining on the sidelines. A lot of traders in the US may have opted for a long weekend and locally I think people may be more interested in the golf than the market,” a dealer said.
He added that bullion was ticking up, giving some impetus to gold counters.
Gains in Standard Bank dominated the upside on the all-share index, with the counter adding 1,40% or 50 cents to R36,20.
Absa added 1,71% or 68 cents to R40,50 and FirstRand picked up 7 cents to R8,45, although Nedcor defied the stronger trend and slipped 13 cents to R65,77.
MTN Group was 1,80% or 45 cents higher at R25,45, although Telkom was unable to continue its recent strengthening trend and lost 1,23% or 80 cents to R64,20.
AngloGold led gold counters firmer, gaining 1,17% or R3,50 to R303,50, while Harmony was 1,02% or R1,01 to the good at R99,80.
On the industrial front SABMiller was 30 cents up at R64,10, Netcare gained 3,96% or 19 cents to R4,99 and Steinhoff was 3,32% or 22 cents higher at R6,85.
Financial services group Sanlam gained 1,20% or 10 cents to R8,40, while Old Mutual lost 10 cents to R10,75.
Other shares to decline on the day included AngloPlat, which slipped 1,41% or R3,85 to R270,15, Anglo American was 20 cents weaker at R135,70 and BHP Billiton was 6 cents lower at R48,90. — I-Net Bridge