The JSE Securities Exchange South Africa (JSE) edged marginally higher on Thursday mainly on the back of global resources group Anglo American and other resources stocks, as well as the weaker tone of the rand.
The all share index closed 0,32% up, resources added 0,67%, the platinum mining index climbed 0,24%, industrials added 0,1% and financials climbed 0,08%. The banks index added 0,38%. The gold mining index inched down 1,17%.
The rand was quoted at R6,07 per United States dollar from R6,04 when the JSE closed on Wednesday, while gold was quoted at $404,80 a troy ounce from $405,13/oz at the JSE’s last close.
Meanwhile, South African near-dated futures closed flat on Thursday on the back of weaker international markets and a slightly stronger rand.
By 17.35pm, near-dated all share index futures had gained a marginal 7 points or 0,08%, finishing at 9,280, while the near-dated industrial index futures were 38 points or 0,53% in the black ending at 7,368.
“The local currency took its cue from weaker international markets,” a derivatives trader said.
The South African rand was a tad firmer against major currencies in late afternoon trade, after the release of weaker-than-expected US industrial production data saw the dollar lose a bit of ground.
However, analysts saw the rand’s gains as limited and expected it to remain range bound for now.
A SAFEX official said 12,535 Alsis traded on Thursday from 22,686 on Wednesday, while 110 Indis changed hands on the day from zero previously.
During the session, the Alsis ranged between 9,266 and 9,348 while the Indis were stuck between 7,368 and 7,395. — I-Net Bridge