The JSE was roaring ahead in noon trade on Thursday, benefiting from the three perks of stronger world markets, higher commodity prices and buying related to the futures close-out, which had just got underway, dealers said. Trade was brisk and about R5-billion worth of shares had already changed hands.
By 12.08pm, the all-share index leaped 3,83%. Resources rallied 4,42%, with the gold- and platinum-mining indices jumping 3,28 and 2,67% respectively. Industrials strengthened 3,51%, financials firmed 3,38% and the banks index was 4,09% in the black.
The rand was bid at 6,81 per dollar from 6,84 when the JSE closed on Wednesday, while gold was quoted at $574 a troy ounce from $566,05/oz at the JSE’s last close.
“We’re flying on the back of world markets,” a dealer said. He added that commodity prices were also higher. Buying related to the futures close-out, which had just got underway, was further underpinning the JSE.
In morning trade, London-listed Anglo American soared 5,66% or R13,30 to R248,30 and BHP Billiton was boosted 4,1% or R4,79 to R121,50.
AngloGold Ashanti leaped 5,92% or R16,26 to R291, Gold Fields gained 2,6% or R3,01 to R119 and Harmony was 2,98% or R2,59 higher at R89,49.
Junior miner DRDGOLD rocketed 9,38% or 75c to R8,75, but Western Areas dropped 7,64% or R2,98 to R36.
AngloPlat added 3,08% or R16 to R536 and Impala improved 2,08% or R20 to R980.
Petrochemicals group Sasol strengthened 4% or R8,99 to R233,49, while coal and iron ore miner Kumba jumped 4,8% or R4,99 to R108,99.
Industrials to feature included Swiss-listed luxury goods group Richemont, which rose 4,63% or R1,32 to R29,85. London-listed brewer SABMiller was 2,62% or R3,09 stronger at R120,85.
MTN Group surged 5,66% or R2,97 to R55,47 and Telkom leaped 4,04% or R5,16 to R132,96.
Transport and logistics group Imperial rallied 7,38% or R10 to R145,50.
Brand management group Barloworld was up 3,76% or R3,99 at R109,99.
On the financial front, London-listed Old Mutual firmed 2,7% or 52c to R19,79.
Sanlam climbed 2,07% or 30c to R14.80 and Liberty Group gathered 2,84% or R1,99 to R71,99.
Nedbank leaped 5,46% or R5,98 to R115,48, Absa added 4,76% or R5 to R110, FirstRand firmed 4,56% or 80c to R18,35 and Standard Bank was 2,73% or R2,10 softer at R79. — I-Net Bridge