The JSE was firmer at midday on Wednesday, having bounced after Tuesday’s sell off.
By 12.21pm, the all share and all share industrial indices added 0,82% and 0,93% respectively. Resources rose 0,9% and the gold mining index jumped 2,09%, but the platinum mining index lost 0,57%. Financials fell 0,53% and the banks index was 0,46% better.
The rand was bid at 6,83 per dollar, little changed from when the JSE closed on Wednesday, while gold was quoted at $565,70 a troy ounce from $577/oz at the JSE’s last close.
“The market is looking slightly better against all trends,” a dealer said. “There was quite a push through from Australia into Billiton and Rio Tinto and Anglo has follows suit here.”
He continued that there had also been demand for gold shares, which in dollar terms were trading above their New York closing levels.
Futures activity remained a feature ahead of Thursday’s closeout.
The main reason the JSE was up, however, was that it was oversold on Tuesday and had bounced, the dealer concluded.
On the resources index, BHP Billiton rebounded 1,33% or R1,50 to R114 and Anglo American climbed R1 to R231.
AngloGold Ashanti advanced 3,3% or R8,50 to R266,01 and Gold Fields leaped 2,83% or R3,14 to R113,95. Harmony climbed 26 cents to R85,25, but junior miner Western Areas slid 5,06% or R2 to R37,50.
AngloPlat was off R3,50 at R509,50 and Impala weakened R6 to R964.
Coal and iron ore miner Kumba surged 3,4% or R3,40 to R103,40.
Petrochemicals group Sasol gained 99 cents to R223,50.
London-listed brewer SABMiller led industrials higher, jumping 2,22% or R2,55 to R117,24.
Services group Bidvest picked up 2,4% or R2,20 to R93,70 and transport and logistics group Imperial rallied 2,58% or R3,34 to R132,99.
Telkom bounced 2,89% or R3,57 to R126,99, while media group Naspers notched up 1,56% or R1,75 to R113,75.
Pulp and paper producer Sappi was 3,83% or R2,80 stronger at R76.
Construction group Murray & Roberts soared 4,22% or 95 cents to R23,45.
Mittal Steel, however, weakened 60 cents to R61,51, while Hiveld slid 3,61% or R2,55 to R68,05.
Sanlam featured on the financial front, strengthening 2,66% or 37 cents to R14,27.
FirstRand firmed 1,22% or 21 cents to R17,46 and Standard Bank climbed 49 cents to R74,k99, but Nedbank fell 1,73% or R1,90 to R108,10. – I-Net Bridge