The JSE Securities Exchange was showing strength across the board at midday on Monday, bolstered by a weaker rand and firmer world markets. On the whole, sentiment towards equities was bullish, dealers said.
By 12.08pm, the all share and all share industrial indices both added 0,71%.
Financials firmed 0,96% and the banks index was 1,06% better. The resources and gold mining indices rose 0,52% and 0,58% respectively and the platinum mining index perked up 1,17%.
The rand was quoted at 5,99 per dollar from 5,94 when the JSE closed on Friday, while gold was quoted at $423,40 a troy ounce from $426,03/oz at the JSE’s last close.
“We’ve got a nice strong market on the back of the weak rand,” a dealer said. “World markets are looking good and sentiment towards equities is positive.”
Cellular network operator MTN group led the JSE’s upside, leaping 2,39% or R1,04 to R44,50. Telkom gained R1,01 to R108,01.
London-listed brewer SABMiller was 50 cents stronger at R91,50 and Swiss-listed luxury goods group Richemont climbed 11 cents to R18,52.
Services group Bidvest was up 1,21% or 95 cents at R79,50 and media group Naspers notched up 1,05% or 77 cents to R74,25.
Pulp and paper producer Sappi picked up 55 cents to R77,75 after earlier trading as high as R78,30.
At the opening, Sappi reported headline earnings per share of 6 US cents for the quarter ended December 31, down from 26 cents in the September quarter, but up from a loss of 11 cents in the December quarter of 2003.
Standard Bank surged 1,72% or R1,10 to R65,10, FirstRand firmed 10 cents to R13,55 and Absa added 24 cents to R76,40 after earlier trading at a best ever R77,50.
Financial services group Sanlam soared 1,85% or 23 cents to R12,63, while London-listed Old Mutual was 1% or 14 cents in the black at R14,10.
Investment trust VenFin forged ahead 2,08% or 51 cents to R25.
On the resources index, Kumba bounced 1,89% or one rand to R54.
BHP Billiton was up 65 cents at R73,15 and Anglo American advanced 65 cents to R138,65.
Impala Platinum improved 1,01% or five rand to R500 and AngloPlat strengthened one rand to R213.
AngloGold Ashanti gained R1,49 to R194,99, Harmony was 41 cents higher at R49,35 and Gold Fields inched 19 cents higher to R66,50.
Before the opening, Gold Fields reported headline earnings per share of nine cents for the December quarter of 2004, from 21 cents in the September 2004 quarter.
Analysts had expected the group to report headline earnings per share of 27 cents, with forecasts ranging from 25 cents to 31 cents.
Gold Fields reported net earnings per share, excluding gains and losses on financial instruments and foreign debt net of cash and exceptional items, of 20 cents for the December quarter from a loss of one cent in the September quarter.
Analysts had expected net earnings per share of 29 cents, with forecasts from 25 cents to 33 cents.
For the half-year ended December 2004, Gold Fields declared an interim dividend per share of 30 cents from 40 cents a year ago.
On the JSE’s downside, petrochemicals group Sasol slipped R1,09 to R120,51.
Media group Primedia dived 4,78% or 55 cents to R10,95, but only 200 shares had traded.
Brand management group Barloworld eased 70 cents to R103,30.
Retailer Truworths retreated 1,16% or 20 cents to R17 and Nu Clicks lost 1,14% or 10 cents to R8,65. – I-Net Bridge