The JSE Securities Exchange South Africa on Wednesday touched its best level since early June 2002 ahead of Thursday’s September equity futures.
At 12h00, the all share and all share industrial indices were 0,40% and 0,47% firmer respectively. Financials were up 0,17% and the banks index was 0,18% higher. Resources added 0,47% and the gold mining index climbed 1,91%, while the platinum mining index picked up 0,06%.
The rand was quoted at 6,5320 per US dollar from 6,51 when the JSE closed on Tuesday, while gold was quoted at $405 a troy ounce from $406/oz at the JSE’s last close.
“The JSE is higher ahead of tomorrow’s futures close out. The weaker rand has also taken the market a bit higher as well as demand for BHP Billiton, mainly out of London,” an equities broker said.
On Thursday, the key offshore data that the market will be watching out for are US August consumer price inflation and US September weekly jobless claims.
London-listed diversified resources group Anglo American lost 45 cents or 0,3% to R146,55 and BHP Billiton climbed 50 cents to R61,89.
In the gold mining sector, AngloGold Ashanti was quoted at R244, up R7,15 or 3% from the stock’s previous close; Harmony jumped 2,8% or R2,25 to R83,55 and Gold Fields gained 66 cents to R79,96.
Swiss-listed luxury goods group Richemont rose 28 cents to R17,66 and cellular network operator MTN Group fell 10 cents or 0,34% to R29,40.
Retailer Edcon rallied 1,1% or R2,10 to R187,10. Earlier Edcon touched a lifetime high of R190.
On the financial front, niche banking group Investec plunged 1,2% or R1,49 rand to R123,50.
London-listed financial services group Old Mutual added one cent to R12,82 and banking group Absa was 14 cents higher at R58,49.
Oil and chemicals group Sasol touched a long-term high of R122,50 on Wednesday and the stock was last quoted up 80 cents from its previous close at R122,10.
In the news, SABMiller’s Chinese joint-venture, China Resources Breweries has acquired the Chinese brewing interests of Lion Nathan for an equity value of $71-million and estimated assumed debt of $83-million.
SABMiller was last quoted at R83,50, down 10 cents from the stock’s previous close. – I-Net Bridge