The JSE Securities Exchange South Africa moved further into uncharted territory on Friday as money continued to follow into local equities. A turnaround in European markets added to the positivity.
By 11.55am, the all share and all share industrial indices were up 0.74% and 0.86% respectively. Resources rose 1.05%, the platinum mining index jumped 1.83% and the gold mining index gained 0.48%. Financials were flat, while the banks index eased 0.25%.
The rand was quoted at 6.59 per dollar from 6.60 when the JSE closed on Thursday, while gold was quoted at $418.60 an ounce from $418.10/oz at the JSE’s last close.
“The JSE started weaker, but is now positive. It is just continued upward momentum and positive sentiment coming through,” a dealer said.
The JSE reached a highest-ever level last week on Wednesday and has continued to rally, breaking above 12 000 for the first time on Thursday afternoon.
On the JSE’s upside, petrochemicals group Sasol surged 2.34% or 2.89 rand to 126.60 rand. Its intraday high of 126.65 rand was its strongest since April 200.
BHP Billiton, which traded at a lifetime high of 73.30 rand, was last quoted 65 cents in the black at 72.80 rand and Anglo American added 1.25 rand to 159.75 rand.
AngloPlat soared 3.17% or 8.90 rand to 290 rand and Impala jumped 1.13% or six rand to 535 rand.
Gold Fields firmed 1.11% or 1.01 rand to 92.01 rand, Harmony was up 80 cents at 91.40 rand, but AngloGold Ashanti shed 1.63 rand to 247 rand.
On the industrial market, London-listed brewer SABMiller strengthened 1.61% or 1.40 rand to 88.30 rand and brand management group Barloworld was 1.52% or 1.20 rand better at 80.40 rand.
Cellular network operator MTN Group gained 1.69% or 55 cents to 33.05 rand and Telkom bounced 1.89% or 1.50 rand to 81 rand.
Food group Tiger Brands was 1.51% or 1.50 rand in the black at 101 rand, while Tongaat (TNT) roared ahead 3.66% or 1.80 rand to 51 rand – its highest since November 2002.
Media group Naspers surged 2.13% or 1.13 rand to 54.13 rand. It earlier traded at 54.95 rand – its strongest since November 2000.
Financials to firm included Sanlam, which was 1.11% or 12 cents higher at 10.92 rand. Microlender Abil leaped 1.85% or 25 cents to 13.80 rand.
However, banking group Nedcor lost 1.28% or 80 cents to 61.90 rand. RMB Holdings (RMH) retreated 15 cents to 18.25 rand.
Steel producer Ispat Iscor (IIS) was 25 cents softer at 50.50 rand and Kumba (KMB) surrendered 3% or 1.35 rand to 43.65 rand after rocketing almost 12% on Thursday. – I-Net Bridge.