The JSE was steaming ahead in noon trade on Wednesday, propelled by firmer world markets and relatively high commodity prices. The bourse hit another record high — its seventh in the last ten trading days.
At 12.20pm, the all-share index was up 0,29% at 23 600,8 having touched a best-ever level of 23 648,4. Resources had rallied 1,05%, with the gold- and platinum-mining indices gaining 0,65% and 0,54% respectively. Industrials, however, had dipped 0,08%. Financials had fallen 0,6% and the banks index was 0,82% in the red.
The rand was bid at 7,71 per dollar from 7,70 when the JSE closed on Tuesday, while gold was quoted at $581,95 a troy ounce from $582,64/oz at the JSE’s last close.
“The market is very strong. It is resources-led but more than anything else the energy is coming from offshore markets,” a dealer said, “The Dow is edging up every day — we keep getting new highs there — and the confidence is growing in offshore markets. That’s following through here.
“We are mainly seeing strength in resources, but don’t underestimate offshore markets.”
In morning trade, London-listed diversified resources group Anglo American added R2,95 to R346,50, while BHP Billiton bounced 1,34% or R1,96 to R147,81.
Billiton earlier traded at a record high of R148,72.
Petrochemicals group Sasol was 2,03% or R5,25 stronger at R264,25.
AngloGold Ashanti advanced 1,06% or R3,35 to R318 and Gold Fields gained 1,5% or R1,96 to R132,48, but Harmony lost 131% or R1,47 to R111.
Impala Platinum jumped 1,22% or R15,99 to R1,326 but AngloPlat eased R3 to R837.
Among industrials, Swiss-listed luxury goods group Richemont ticked 8c higher to R38,29, but London-listed brewer SABMiller was off 23c at R147,10.
Food group Tiger Brands firmed R1,20 to R146, while AVI perked up R18,15.
Telecoms group Telkom gave up 1,09% or R1,50 to R136 and MTN Group shed 41c to R66,58.
Retailer Pick ‘n Pay rang up 1,51% or 45c to R30,25.
Standard Bank slipped 1,12% or 94c to R83,15, Nedbank weakened 1,27% or R1,51 to R116,99 and Absa slipped 60c to R107,20.
London-listed financial services group Old Mutual fell 1,09% or 27c to R24,50 and Sanlam was 1,21% or 21c softer at R17,20. — I-Net Bridge