The JSE Securities Exchange South Africa (JSE) was firmer in noon trade on Friday, buoyed by positive sentiment and strong performances by heavyweight dual-listed stocks offshore. However, as has been the case all week, volumes were fairly light with just more than R700-billion-worth of shares having changed hands.
At 11.53am, the all-share and all-share industrial indices were up 0,56% and 0,46% respectively. Resources were 0,94% stronger, the platinum mining index had ticked up 0,29%, but the gold mining index was off 0,71%. Financials were flat (-0,09%), but the banks index was 0,55% in the red.
The rand was quoted at R6,34 to the dollar from R6,33 when the JSE closed on Thursday, while gold was quoted at $426,75 an ounce from $425,65/oz at the JSE’s last close.
A dealer said that the JSE was broadly up. Sentiment was positive and people were also expecting the rand to weaken a bit later in the day.
“It has been a slow morning. Anglo and Billiton are among the big gainers. They are up in London — base metals prices were up sharply overnight,” a dealer said.
She added that telecoms stocks were also looking good.
Anglo American added 1,76% or R2,70 to R156,45 and BHP Billiton leaped 2,52% or R1,49 to R60,50.
However, Gold Fields gave up 1,12% or 95 cents to R84,05, Harmony was 74 cents lower at R96,51 and AngloGold was off R1,75 at R96,51.
Impala Platinum inched up R1,98 to R517 and AngloPlat was 50 cents firmer at R278.
Synthetic fuels group Sasol, however, slipped 1,97% or R1,95 to R97,05 after going ex-dividend of R2,15.
The dealer noted that telecoms stocks were looking strong, with Telkom jumping 2,18% or R1,75 to R82 after earlier trading at a lifetime high of R83.
Cellular network operator MTN group was up 1,83% or 60 cents at R33,40.
On Friday morning, South African Public Enterprises Minister Jeff Radebe has announced that Umthunzi Telecoms Consortium is the preferred bidder on the MTN tender that was placed on September 19 last year.
The government expected the transaction to be valued at about R2,5-billion. Radebe said this was for 80,3-million shares held in MTN through the Transnet Group and Transnet M-Cell Trust.
Radebe said 75-million ordinary shares were held through the M-Cell Trust.
Swiss-listed luxury goods group Richemont climbed 10 cents to R16,90 and steel producer Iscor strengthened 1,34% or 49 cents to R36,99.
London-listed IT group Dimension Data was up 2,88% or 13 cents at R4,65 and furniture group Steinhoff leaped 1,25% or 10 cents to R8,10.
However, brand management group Barloworld weakened 30 cents to R66,60 and media group Naspers was 30 cents softer at R43,65.
On the financial front, London-listed Old Mutual climbed four cents to R11,72 and Sanlam strengthened seven cents to R9,37.
Banking group Absa added 21 cents to R47,70, after earlier trading at its best level since April 1998 of R48.
RMB Holdings was five cents higher at R14,90.
Standard Bank shed 1,83% or 78 cents to R41,95 after going ex-dividend of 109,5 cents, while FirstRand was down a neither- here-nor-there one cent at R9,79. — I-Net Bridge