The JSE reached yet another high on Monday morning, with Impala’s eight-for-one shares split sending platinum shares skywards. Positive world markets and a strong gold price gave the bourse added support.
By 11.53am, the all share index was up 0,68% at 23 750,16 having touched a
record level of 23 763,779. Resources rallied 1,19%, helped by a 5,38% surge in the platinum index and 0,64% improvement in the gold mining index. Industrials and financials firmed 0,35% and 0,21% respectively, but the banks index eased 0,14%.
The rand was bid at 7,38 per dollar from 7,36 when the JSE closed on Friday, while gold was quoted at $626,25 a troy ounce from $622,70/oz at the JSE’s last close.
Volumes were light — only R1,5-billion worth of shares had changed hands.
“There is not a lot of business going on,” a dealer said. “Impala is where the impetus is coming from after today’s eight-for-one shares split. There has been a contagion effect on AngloPlat, which is up strongly as well.”
He added that gold shares were also faring quite well, pushed up by the higher bullion price.
He noted that European markets were up and markets in the Far East had performed quite solidly, which was also helping the JSE.
With Opec output cuts imminent, petrochemicals group Sasol was also in demand, the dealer concluded.
In morning trade, Impala Platinum surged 6,57% or R11,12 to R180,50. They earlier traded at a record high of R181, taking the share split into consideration.
AngloPlat soared 4,22% or R34,99 to R865, having traded at a lifetime high of R866.
Sasol was 1,8% or R4,50 stronger at R254, while coal and iron ore miner Kumba jumped 1,99% or R2,90 to R148,50.
London-listed diversified resources group Anglo American added R2 to R340,50.
AngloGold Ashanti advanced R2,80 to R320,80 and Gold Fields firmed R1,01 to R130.
Among industrials, Swiss-listed luxury goods group Richemont rose 1,54% or 56 cents to R36,91.
Tongaat-Hulett leaped 3,11% or R2,95 to R97,95.
Mittal Steel was 1,54% or R1,41 stronger at R93.
Brand management group Barloworld was 1,03% or R1,45 better at R141,95 and transport and logistics group Imperial jumped 1,67% or R2,50 to R152,25.
After a strong run in recent weeks, construction company Group Five fell 2,445 or R1 to R40 and Aveng gave up 1,56% or 50 cents to R31,50.
Furniture retailer Ellerine tumbled 2,72% or R2 to R71,50 and Lewis lost 2,08% or R1,20 to R56,55. JD Group was down 1,31% or R1 at R75,50.
Before the opening, JD Group reported a 19% rise in diluted headline earnings per share to 802,2 cents for the year ended August from 671,8 cents a year ago.
A final dividend of 182 cents per share was declared, up from 167 cents a year ago, making a total dividend of 412 cents, up 19% from 352 cents a year ago.
The I-Net Bridge consensus forecast was for diluted HEPS of 825 cents and a dividend of 423,4 cents.
On the financial front, Sanlam was 1,09% or 19 cents stronger at R17,59, but Liberty Group lost 55 cents to R74,45.
While Standard Bank climbed 35 cents to R85,85, FirstRand fell 10 cents to R19,25 and Absa was off 80 cents at R112,45. – I-Net Bridge