The JSE Securities Exchange (JSE) was slightly higher on Thursday afternoon on the back of a weaker tone to the rand earlier in the day and higher resources stocks.
At 11.55am, the all-share index was 0,34% higher. Resources added 0,76%, the platinum-mining index was 0,16% and the gold-mining index was 1,35% firmer. Industrials and financials added 0,09% and 0,06% respectively, while the banks index was 0,3% in the red.
After weakening to R6,3151 during the morning, the rand was quoted at R6,27 per dollar from R6,31 when the JSE closed on Wednesday. Gold was quoted at $425 a troy ounce from $424,60/oz at the JSE’s last close.
“The JSE is marginally higher today on the back of the rand and resources, especially the gold sector which is being boosted by the United States dollar gold price reaching $425/oz,” an equities deal said.
Resources group Anglo American was last quoted 19 cents lower at R138,30, while BHP Billiton was 1,2% or 75 cents higher at R64,60.
BHP Billiton earlier on Thursday announced that it had seen record aluminium primary metal production, manganese ore output and iron production during the group’s first quarter, ended September.
BHP Billiton’s September-quarter aluminium output totalled 339 000 tonnes, the group’s manganese ore output was 1,4-million tonnes and iron-ore output was 22,5-million tonnes.
World number-six gold miner Harmony is currently bidding for rival Gold Fields, with the backing of Russia’s Norilsk Nickel, which has a 20% stake in Gold Fields.
Gold Fields was last quoted 2,3% higher at R90,51, while Harmony was 2,3% or 165 cents higher at R73,80. However, AngloGold Ashanti was quoted down R2,01 at R235.
On Monday, food and pharmaceuticals group Tiger Brands unbundled its holding in retail group Spar. Spar was last quoted at R19,46, down 16 cents or 0,8%. Earlier on Thursday, the company touched its lowest level since listing of R19,41.
Steel producer Ispat Iscor surged 3,3% or R1,60 to R50,10, while pulp and paper producer Sappi was 55 cents stronger at R87.
Retailer Nu Clicks was 1,3% or 10 cents higher at R7,55. Nu Clicks earlier reported a 12,7% rise in its fully diluted headline earnings per share from continuing operations for the year to August 31 2004, to 68,3 cents from 60,6 cents a year earlier. The company declared a final dividend of 22,5 cents, up from 15,1 cents in 2003.
Financial services group Old Mutual added 13 cents to R13,03 and banking group FirstRand fell nine cents to R11,76. — I-Net Bridge