The JSE continued to post fresh all-time highs on Wednesday, due to a firmer resources sector driven by higher metals and commodity prices as well as higher world markets, brokers said.
By 12.26pm, the all-share index had added 0,29%, the all-share industrial index was up 0,3%, the financials index added 0,19% and the banks index had soared 0,54%. The resource 20 index was up 0,36% and the gold-mining index gained 1,21%.
However, the platinum and precious-metals index lost 0,77%.
The all-share index was last quoted at 18 430,96 points, after earlier touching an all-time high of 18 491,359 points.
The rand was bid at R6,17 per dollar from R6,26 when the JSE closed on Tuesday, while gold was quoted at $534,60 a troy ounce from $527,65/oz at the JSE’s last close.
“The JSE is higher on talk about the year ahead. People are saying that it will be a year for metals, and the markets in general are expected to be strong. A bit of fresh money is coming to the market, after the New Year. The stocks that are benefiting most are the golds and the diversified stocks like BHP Billiton and Anglo,” a Johannesburg equities trader said.
“In 2006, it is going to be a bit more of a bumpy ride than 2005, but it will be another good year,” he added.
In the gold sector, AngloGold Ashanti was up R2,11 or 0,7% at R320,01, Gold Fields was quoted up R1,70 or 1,4% at R119,50 and Harmony Gold was quoted at R87,50, up R0,99 or 1,1%.
Junior gold miner Simmer and Jack Mines on Wednesday traded at an all-time high of 144 cents.
Western Areas climbed to a long-term high of R43,50. The stock was last quoted at R43,40, up 2,5% or 105 cents from its previous close.
Global resources group Anglo American (Anglo) touched an all-time high of R222,94, while South African food and pharmaceuticals group Tiger Brands climbed to an all-time high of R148.
BHP Billiton moved to an all-time high on the JSE of R106.
Anglo was last quoted at R220,30, up R1,70 or 0,8%, and Tiger Brands was quoted at R147, the same as its previous close.
Tiger Brands moved to the all-time high due to positive sentiment towards the pharmaceuticals industry.
With a 31% contribution to group operating income, the pharmaceuticals segment Adcock Ingram is the second-largest division, after domestic food, within Tiger Brands.
During the year ended September, the group bolstered its pharmaceuticals division by introducing new products in addition to the acquisition of the Donmed Pharmaceuticals business as well as the rights to Vita-Thion.
Sasfin Frankell Pollak chief strategist officer Craig Pheiffer said the market had a high valuation for the company’s pharmaceutical side and attributed the stock’s strength to Tiger Brands’ wholly-owned subsidiary Adcock Ingram, which has a significant contribution towards the company’s earnings.
Listed pharmaceutical group Aspen Pharmacare Holdings was last quoted at R34,05 near its all-time high of R36.
In the banking sector, Absa climbed to an all-time high of R104,25 and Standard Bank also climbed to an all-time best of R79.
Paper and pulp group Sappi declined R1,20 or 1,7% to R70,10 and steel group Mittal Steel South Africa fell 30 cents or 0,5% to R61,70.
In the information technology sector, Didata added seven cents to R4,57 and Datatec fell 20 cents or 1% to R19,80.
In the platinum sector, Anglo Platinum declined R9,50 or 2% to R473,50 and Impala Platinum declined one rand to R969.
In the retail sector, Pick ‘n Pay lost 35 cents or 1,23% to R28,15 and Woolies added 21 cents or 1,5% to R14,46. — I-Net Bridge