The JSE Securities Exchange (JSE) was firmer at midday on Monday, lifted by positive global sentiment towards equities. Stocks that fell on Friday due to profit-taking ahead of the weekend recouped their losses, dealers said.
By 12.02pm, the all-share index added 0,49%. Industrials climbed 0,75%, with the financial and banks indices firming 0,89% and 1,12% respectively. Resources dipped a marginal 0,05%, the platinum-mining index eased 0,1% and the gold-mining index slipped 1,03%.
The rand was bid at R6,54 per dollar from R6,56 when the JSE closed on Friday, while gold was quoted at $431,40 a troy ounce from $430/oz at the JSE’s last close.
“I think there is a very confident view on global markets at the moment,” a dealer said. “The confidence is for various reasons, including low interest rates, low inflation and good corporate results.”
He added that a number of the gainers were recouping losses sustained during Friday’s profit-taking.
The JSE had a phenomenal July, gaining 7% on the month and rallying to successive record highs.
On the market’s upside, cellular network operator MTN Group leaped 2,75% or R1,28 to R47,75. Telkom gained R1,10 to R126,80.
Petrochemicals group Sasol strengthened 1,27% or R2,50 to R198,75.
Iron-ore miner Kumba was up 1,36% or 95 cents at R70,95 and pulp and paper producer Sappi jumped 2,35% or R1,60 to R69,60.
Swiss-listed luxury goods group Richemont rose 15 cents to R23,45.
Hospital group Netcare was a feature, rallying 2,87% or 15 cents to R6,45.
Brand-management group Barloworld was 1,06% or R1,05 better at R100,30 and its subsidiary PPC was bolstered 1,2% or R3,02 to R255,02.
Transport and logistics group Imperial roared to a best-to-date R118,25 and was last quoted at R118,10 — still up 2,07% or R2,40 on the day.
IT retailer Connection Group rocketed 11,54% or R1,50 to R14,50. It traded at a highest level since 1998 of R14,55 after JD Group said it will offer R14,75 per share for the entire issued share capital of Connection Group, for a cash consideration totalling approximately R500-million.
JD Group shares were 20 cents softer at R73,50.
Financials to firm included life assurer Liberty Group, which leaped 2,97% or R1,86 to R64,51. Sanlam strengthened 2,02% or 25 cents to R12,60 and Old Mutual was up 1% or 15 cents at R15,10.
Standard Bank was 1,56% or R1,10 in the black at R71,80 and FirstRand advanced 1,58% or 25 cents to R16,10.
On the downside, gold-miner Harmony weakened 1,78% or 98 cents to R54,02 and Gold Fields fell 1,63% or R1,17 to R70,82.
Diversified resources group BHP Billiton was off 31 cents at R92 and Anglo American dipped 23 cents to R165,52.
Mittal Steel was 1,52% or 83 cents softer at R53,75.
While Real Africa Holdings dived 18% or 90 cents to R4,10, this was not unexpected as it went ex-special dividend of one rand a share. — I-Net Bridge