The JSE reached yet another record high on Monday, this time driven by a weaker rand. Trade was brisk, with almost R1,4-billion worth of shares changing hands.
At 11.59am, the all share index was up 0,33% at 15 827,71 having reached
a lifetime high of 15 836,16 during the session. Industrials were up 0,69%. Resources rose 0,52%, the gold mining index jumped 2,69% and the platinum mining index climbed 0,19%. Financials fell 0,51%, however, and the banks index was 0,54% in the red.
The rand was bid at 6,41 per dollar from 6,36 when the JSE closed on Friday, while gold was quoted at $442,70 a troy ounce from $446,40/oz at the JSE’s last close.
”There have been huge volumes going through this market. Over R1,3-billion rand has already traded,” a dealer said. ”There have been massive volumes in Sasol — close to a million shares have traded on the back of the high oil price.”
He added that London-listed BHP Billiton was also benefiting from oil.
The dealer said that while gold shares were looking strong, the gold price had slipped and this could result in some selling coming into gold shares.
Overall, the market was up on the back of the weaker rand, the dealer concluded.
BHP Billiton shares were 90 cents in the black at R100,15, having traded at a record high of R100,50. Sasol was 40 cents stronger at R218,40.
Gold miner Gold Fields leaped 3,45% or R2,54 to R76,25 and Harmony was 2,54% or R1,40 higher at R56,60. AngloGold Ashanti advanced 1,26% or R2,90 to R233 despite going ex-dividend of R1,70 per share.
Junior miner DRDGOLD soared 7,52% or 50 cents to R7,15 and Western Areas rallied 6,57% or R1,51 to R24,50.
AngloPlat was up R3,50 at R323,50.
Iron ore miner Kumba climbed 1,31% or R1,05 to R81,05 and Mittal Steel strengthened 1% or 55 cents to R55,30.
Anglo American, however, was 43 cents softer at R170,25 after going ex-dividend of 183,46 cents per share. The dealer noted that it only went ex-dividend in London on Wednesday.
Impala Platinum dipped R1,50 to R625,49.
On the all share industrial index, media group Naspers soared to a best-ever R107,50 and was last quoted 3,7% or R3,79 rand in the black at R106,25.
London-listed brewer SABMiller was up 1,69% or R1,95 at R117 having traded at a highest ever R117,50.
Swiss-listed luxury goods group Richemont rose 18 cents to R24,60.
Pulp and paper producer Sappi jumped 2,12% or R1,45 to R69,75.
Industrials to decline included retailer Edcon, which fell 1,08% or 35 cents to R31,95. Shoprite was 1,19% or 20 cents softer at R16,60.
Chemical and explosives group AECI was down 1,51% or 75 cents at R49.
Microlender ABIL led the upside of the financial index, advancing 2,06% or 43 cents to R21,35.
London-listed financial services group Old Mutual firmed six cents to R15,65.
Investment company Remgro dived 7,74% or R9,25 to R110,25.
However, this was no surprise as it went ex-final dividend of R1,98 rand a share and ex-special dividend of six rand a share, bringing the total dividend to R7,98 a share.
Financial and risk services group Alexander Forbes plunged 6,83% or 99 cents to R13,50 after going ex-dividend of 67 cents per share.
Banking group RMB Holdings retreated 1,52% or 40 cents to R25,90, Nedbank lost 61 cents to R88,40, Absa weakened 61 cents to R96,40 and Standard Bank surrendered 29 cents to R74,01.
Investment company VenFin fell 1.23% or 40 cents to 32 rand. – I-Net Bridge