The JSE Securities Exchange South Africa (JSE) ticked up during the morning session on Monday, with the key driver of the market being the resources sector.
At 11.55am, the all-share and all-share industrial indices were up 0,92% and 1,06% respectively. Resources rallied 1,01%, the gold mining index climbed 0,03% and the platinum mining index jumped 2,57%. The financial index added 0,54% while the banks index climbed 0,53%.
The rand was quoted at R6,62 per United States dollar from R6,63 when the JSE closed on Friday, while gold was quoted at $398,40 an ounce from $396,45/oz at the JSE’s last close.
“The JSE is up on the resources sector, which is being led by gains in Anglo American [Anglo] and BHP Billiton. The platinum sector is also strong,” a Johannesburg broker said.
Anglo was last quoted at R168,50, up 1,3% or R2,14 from Friday’s close of R166,36, and also at its highest level since July 2002.
BHP Billiton last traded at R62,40, up 51 cents or 0,8% from the Friday close.
Platinum stocks sparkled on the JSE as the US dollar platinum price forged to fresh 24-year highs.
Platinum was quoted at $893,50/oz from New York close on Friday of $885/oz. Early on Monday, platinum touched a fresh 24-year high of $897,50/oz due to buying by speculators on the Tokyo Commodity Exchange.
Impala Platinum leaped 3,26% or R18 to R570 and Anglo American Platinum added 1,86% or R5,50 to R300,50.
Telecommunications group Telkom ticked up 35 cents to R67,60.
London-listed IT group Dimension Data bounced 6% or 30 cents to R5,30, while financial services group Old Mutual plc firmed 17 cents to R11,93.
Sanlam strengthened 1,86% or 17 cents to R9,32.
On the downside, banking group Absa was 0,6% or 29 cents in the red at R46,40. — I-Net Bridge