The JSE rallied to another record high on Friday, fuelled by firmer world markets. Resources, which remained in vogue globally, led the way.
By 11.59am, the all-share index was up 0,98% at 19 603,79 after earlier touching a record high of 19 670,73. Resources rose 2,29%, the gold-mining index jumped 2,03% and the platinum-mining index climbed 0,33%. The financial and banks indices firmed 0,2% and 0,27% respectively, while the all-share industrial index inched 0,08% higher.
The rand was bid at R6,09 per dollar from R6,10 when the JSE closed on Thursday, while gold was quoted at $559 a troy ounce from $557,76/oz at the JSE’s last close.
“World markets are very strong. The Nikkei was up almost 4%, the Hang Seng was up, the Dow was up and Europe was up,” a dealer said.
He added that the gold price had also ticked higher and while the rand was off its worst levels, it had been trading at R6,12 earlier on.
“The impetus is still on the upside. Guys who, thinking this rally could not last, were short on resources might be hurting. Being a Friday, there might be short covering, which would also help the market,” the dealer commented.
On the resources index, Anglo American (Anglo) surged 4,09% or R9,29 to R236,24 and BHP Billiton was 1,55% or R1,76 better at R115,29. Anglo and Billiton earlier traded at record highs of R237,49 and R116,95 respectively. They also reached new highs in London.
Petrochemicals group Sasol strengthened 1,66% or R3,99 to R244,99.
AngloGold Ashanti advanced 3,54% or R12,45 to R364,50, having earlier traded at a record high of R366. Harmony was trading at R103,90, up 2,66% or R2,69. Its intraday high of R104,99 was its strongest since March 2004. Gold Fields gained 2,66% or R2,69 to R133,30.
Lonmin soared 5,07% or R11 to a four-year high of R228.
Impala Platinum was up two rand at R997, well off its all-time high of R1 013 reached in morning trade. AngloPlat added R1,71 to R466,71.
Iron-ore miner Kumba, however, was 1,55% or R1,80 lower at R114,70.
On the all-share industrial index, Mittal Steel, which earlier leaped to a lifetime high of R69,90, was 3,53% or R2,30 stronger at R67,50. Hiveld was up 2,36% or R2,21 at R96.
Pulp and paper producer Sappi was 1,08% or 90 cents in the black at R83,90. It earlier traded at a one-year high of R84,50.
Cellular network operator MTN Group gained 1,61% or one rand to R63.
Telkom was up 50 cents at R150 after reaching a record high of R152.
Transport and logistics group Imperial improved 1,67% or R2,50 to R152, while Tongaat-Hulett was up 2,09% or R1,90 at R92,90 after trading at an all-time high of R94.
Retailer Shoprite soared 5,38% or R1,11 to a record high of R21,01.
While London-listed brewer SABMiller was 1,61% or R2,08 lower at R126,85, it earlier reached a record high of R129,75.
Swiss-listed luxury-goods group Richemont surrendered 21 cents to R27,64.
On the financial front, Sanlam was up 13 cents at a new high of R16,40 and Old Mutual climbed seven cents to R19,90. It earlier traded at a highest level since February 2001 of R20,12.
Niche banking group Investec plc was up R2,30 at R304 after reaching a lifetime best level of R304,50.
FirstRand firmed 13 cents to R18,93 and Nedbank was 71 cents in the black at R105,60.
Microlender Abil, however, lost 1,07% or 30 cents to R27,70. — I-Net Bridge