The JSE Securities Exchange (JSE) was firmer in noon trade on Friday as the positive sentiment from Thursday’s rally continued, dealers said. However, the gains came on light volumes.
By 12.03pm, the all-share index advanced 0,8%. The financial and banks indices jumped 0,92% and 1,35% respectively. Industrials were 0,36% higher. Resources rose 1,16% and the platinum-mining index gained 0,25%, but the gold-mining index dipped 0,07%.
The rand was quoted at R6,20 per dollar from R6,22 when the JSE closed on Thursday, while gold was quoted at $427,70 a troy ounce from $427,60/oz at the JSE’s last close.
“The market is very, very quiet,” a dealer said. “It is up — there seems to be a continuation of positive sentiment from yesterday [Thursday]. The market appears to be order-driven at the moment.”
In morning trade, diversified resources group Anglo American added R1,30 to R148,50 and BHP Billiton rallied 1,13% or 95 cents to R84,80.
Kumba leaped 2,96% or two rand to R69,50.
Petrochemicals group Sasol soared 3,48% or R5,06 to R150,30.
Impala Platinum improved R3,55 to R528,55, but AngloPlat eased one rand to R233.
While gold-miner Harmony was down 30 cents at R49,40, AngloGold Ashanti inched up 50 cents to R216,50.
Advancers on the industrial market included MTN Group, which gained 1,93% or 85 cents to R44,85.
Media group Naspers jumped 2,23% or R1,59 to R44,85.
Cement producer PPC strengthened 3,53% or R7,80 to R229 and construction group Murray & Roberts was bolstered 2,79% or 38 cents to R14. Aveng advanced 1,68% or 19 cents to R11,49.
Mittal Steel, however, weakened 1,18% or 75 cents to R62,75.
Hospital group Netcare gave up five cents to R5,36.
London-listed brewer SABMiller surrendered 80 cents to R97,20.
Banks were strong performers on the financial front, with FirstRand forging ahead 3,08% or 41 cents to R13,74. Nedcor soared 3,59% or R2,70 to R77,90.
Brait rocketed 6,84% or 80 cents to R12,50 after the investment bank said in a trading statement that due to a continuing improvement of the estimated fair value of Brait’s assets at March 31 2005, basic earnings per share and headline earnings per share for the year ended March 31 are likely to be between 33,0 to 39,6 United States cents per share. — I-Net Bridge