The JSE broke through the 23 000 level for the first time on Monday morning, propelled by firmer world markets and higher commodity prices. The overriding positive sentiment saw the bourse posting gains across the board.
By 11.50am, the all-share index was up 0,73% at 23 006,57, having touched a highest-ever 23 015,93. Resources rallied 1,27%, the platinum-mining index perked up 0,87% and the gold-mining index gained 0,29%. Industrials and financials formed 0,32% and 0,33% respectively and the banks index was 0,69% better.
The rand was bid at 7,50 per dollar from 7,49 when the JSE closed on Friday, while gold was quoted at $592,35 a troy ounce from $586,50/oz at the JSE’s last close.
“Markets across the globe are cooking. It seems the story across the board is one of really positive,” a dealer said.
In New York on Friday, the Dow closed at a record high. The dealer said that on Monday emerging markets were also looking strong.
“The gold price has bounced through $592/oz. All the resources shares are looking good on the gold price, as well as the platinum price and the oil price,” he commented.
In morning trade, London-listed diversified resources group Anglo American advanced to a lifetime high of R339,79. It was last quoted 1,91% or R6,35 in the black at R338,40. BHP Billiton was up 1,69% or R2,33 at R140,10.
Gold Fields firmed 80c to R130,20 and Harmony was 75c higher at R107,50, but AngloGold Ashanti dipped R1 to R291.
Impala Platinum jumped 1,39% or R18 to R1 313, AngloPlat added R4 to R800.
Among industrials, Mittal Steel leaped 2,27% or R2 to an all-time high of R90.
Cellular network operator MTN Group rose 1,04% or 69c to R67,30 and media group Naspers notched up 1,77% or R2,33 to R133,78.
Retailer Edcon rallied 3,06% or 89c to R29,99, Foschini strengthened 2,66% or R1,20 to R46,39 and Woolies strengthened 2,77% or 40c to R14,85.
Transport and logistics group Imperial, however, lost 1,19% or R1,62 to R134,99 and brand management group Barloworld weakened R1,09 to R133,11.
On the financial front, London-listed Old Mutual fell 1,13% or 28c to R24,39 after going ex-dividend of 28,84c per share.
Sanlam, however, was 1,76% or 30c stronger at R17,30.
Standard Bank was bolstered 2,07% or R1,70 to R83,70, Nedbank climbed R1,10 to R115 and Absa added 90c to 103.75 rand.
RMB Holdings tumbled 2,11% or 60c to R27,90 and FirstRand dipped 5c to R18,45. RMB and FirstRand on Monday went ex-dividend of 63c per share and 34c per share respectively. — I-Net Bridge