The JSE was in positive territory just before midday on Monday, encouraged by stronger world markets. The market was quiet, however, with value traded hovering around the R1,5-billion mark.
By 11.50am, the all-share index added 0,36%. Industrials and financials firmed 0,62% and 0,75% respectively, while the banks index was 1,02% in the black. The platinum mining index picked up 0,73%. Resources were flat (-0,03%) and the gold mining index was 0,76% weaker.
The rand was bid at R7,08 per dollar from R7,02 when the JSE closed on Friday, while gold was quoted at $625,40 a troy ounce from $637,85/oz at the JSE’s last close.
“We’ve got a firmer market. World markets are all looking better and we are just following suit,” a dealer said. “But it is very, very quiet — a typical December market.”
He added that the gold price was down on the back of a stronger dollar, so gold shares were a bit weaker. This was despite the fact the rand was also a bit softer than it was when the JSE closed on Friday.
On the resources index, London-listed Anglo American added R1,25 to R335 and BHP Billiton inched up 19 cents to R131.
Impala Platinum improved 1,26% or R2,25 to R180,35. It was announced before the opening that Impala and African Platinum had signed a binding transaction framework agreement in terms of which Impala will acquire 29,9% of Afplats’s South African assets for R1,068-billion.
Coal and industrial minerals group Exxaro rose 45 cents to R54,50, but Kumba Iron Ore weakened 90 cents to R108,60.
Petrochemicals group Sasol slipped 1,54% or R3,99 to R255,01.
Harmony Gold gave up 1,22% or R1,35 to R109,50, AngloGold Ashanti shed R2,48 to R331,50 and Gold Fields fell 70 cents to R127,80.
Among industrials, Swiss-listed luxury-goods group Richemont rallied 1,29% or 49 cents to R38,45 and London-listed brewer SABMiller strengthened 93 cents to R148,55.
Transport and logistics group Imperial climbed R1,20 to R149,20.
Cellular network operator MTN Group rang up 70 cents to R75,75 and media group Naspers was R1,35 to the good at R144,85.
Retailer Edcon leaped 2,2% or 81 cents to R37,60 and furniture group Steinhoff firmed 1,46% or 35 cents to R24,35.
Fast-food group Famous Brands, however, tumbled 2,31% or 30 cents to R12,70.
While construction group Murray & Roberts was up 1,61% or 65 cents at R41, Pretoria Portland Cement was 1,05% or four rand softer at R378.
London-listed financial services group Old Mutual jumped 1,7% or 39 cents to R23,29 and Sanlam climbed 13 cents to R17,60, but Liberty Group surrendered 72 cents to R77,53.
FirstRand firmed 1,47% or 29 cents to R19,99, Absa added 1,14% or R1,30 to R115, Nedbank notched up 1,37% or R1,70 to R125,70 and Standard Bank rose 50 cents to R87.
Microlender Abil, however, slumped 4,33% or R1,22 to R26,93 and specialist bank Investec Ltd lost 1,5% or R1,24 to R81,25.
The counters on Monday went ex-dividend of 120 cents per share and 138 cents per share respectively. — I-Net Bridge