The JSE reversed its earlier losses by midday on Friday and was trading in the black, helped by gains in the resources and platinum-mining indices.
By noon, the all-share index was up 0,78%, while the all-share industrials were 0,54% higher. Resources added 1,03% and the platinum-mining index was 1,35% better. The financial and banks indices were up 0,77% and 0,22% respectively. However, the gold index was in the red — down 0,94%.
The rand was bid at R6,18 per dollar, unchanged from when the JSE closed on Thursday, while gold was quoted at $555,10 a troy ounce from $556,59/oz at the JSE’s last close.
Quite a few shares went ex-dividend on Friday and that was skewing the market a bit, said a trader. Among the shares going ex-dividend on Friday were Bidvest, FirstRand and RMH.
“We opened a bit weaker, but that was short-lived. It’s difficult to say what is driving the market firmer. World markets are looking okay, but it is more likely that it’s some position squaring left over from yesterday [Thursday],” the trader said.
He added that volumes were thin. Many players are expected to be away on Monday ahead of Tuesday’s Human Rights Day holiday in South Africa.
On the resources index, London-listed Anglo American added R6,25 to R228 and BHP Billiton was 139 cents up at R108,29. Sasol, however, was down 355 cents to R224,50.
Among platinum miners, Angloplat was up R12,20 to R517,20, while Impala collected R7,50 to R1Â 095,50.
Among golds, AngloGold Ashanti was down 1,59% or five rand to R310, Gold Fields was steady at R123,50 and Harmony was 150 cents weaker at R87.
Among industrials, SABMiller was up 90 cents to R121,40, Barloworld added 220 cents to R127 and Imperial collected 200 cents to R165. However, Bidvest was down 19 cents to R109,80.
Telkom was up 266 cents to R158,50 and MTN was 65 cents firmer at R61,90.
Nedbank was up 163 cents to R127,80, Standard Bank added 60 cents to R83,70 and FirstRand was down 11 cents to R20,19.
In the news, Jasco was up 25 cents or 9,46% to 290 cents after its trading update in which it advised that its headline earnings per share (Heps) and earnings per share (EPS) for the year ended February 2006 are expected to exceed the Heps and EPS of 16,3 cents for the year ended February 2005 by between 67% and 77%, and between 58% and 68%, respectively. — I-Net Bridge