After starting higher, the JSE Securities Exchange was lower on Monday morning as investors took profits from the exchange’s strong recent run. However, with the rand weaker, the JSE is likely to move higher later in the morning.
At 9.19am, the all share index was down 0,07% and the industrial index lost 0,19%. Resources gained 0,14%, while the gold mining index was up 2,41%.
The financial index lost 0,19%, while the banks index declined 0,23%. The platinum index was last up 0,019%. The rand was quoted at 6,13 per US dollar compared with 6,12 when the JSE closed on Friday, while gold was quoted at $434,15 a troy ounce from $431,65/oz at the JSE’s last close.
In the resources sector, Anglo American started down 80 cents or 0,6% at R139,20, BHP Billiton lost 37 cents or 0,6% to R64,48.
In the industrial sector, SABMiller lost 30 cents or R91, Richemont declined 20 cents to R17,85, while Bidvest was last quoted unchanged from its previous close of R74,20.
In the gold sector, AngloGold Ashanti was quoted at R233, up 2,1% or 480 cents from the stock’s previous close, Gold Fields was 200 cents or 2,4% higher at R87 and Harmony was quoted at R72,40, up 240 cents or 3,4% from Friday’s close.
World number one platinum miner Anglo Platinum was last quoted at R229,50, up R1,30 or 0,6% from the stock’s Friday close.
In early trade on Monday, Sun International and Primedia all touched long-term highs.
In the financial sector, Old Mutual was five cents higher at R13,35, Absa was quoted unchanged at R67,90, Sanlam was quoted five cents lower or 0,5% at R11,15 and Standard Bank down 30 cents or 0,5% at R56,70.
The Dow Jones Industrial Average rallied for the third straight session on Friday, ending up 72,78 points at 10 387,54, AFX said. The benchmark index gained 3,6%, its best weekly performance in more than a year and a half.
The Nasdaq Composite Index climbed 15,31 points, to 2 038,94. The tech-rich
index gained every day this week to rise 3,2%.
The S&P 500 Index rose for the ninth session in a row to end the week at a two-and-a-half year high. The broad gauge rose 4,50 points, to 1 166,17, putting a 3,2% gain on the week.
The Nikkei 225 Stock Average fell for the first time in four trading days, closing down 77,94 points or 0,7% at 10 983,83. – I-Net Bridge