After losing ground over the previous two days, the JSE bounced into the black on Friday, with higher commodity prices boosting resources stocks. Positive European markets were also helping.
By 11.55am, the all-share index added 0,56%. Resources rose 0,93% and the gold-mining index jumped 2,34%, while the platinum-mining index climbed 0,24%. Industrials and financials firmed 0,33% and 0,32% respectively, while the banks index was 0,23% in the black.
The rand was bid at 7,13 per dollar from 7,16 when the JSE closed on Thursday, while gold was quoted at $659,60 a troy ounce from $656,35/oz at the JSE’s last close.
“It is very quiet,” a dealer said. “The market has bounced a bit. Crude went above $60 a barrel and, even though it has come off its highs, all commodities picked up on the back of that.”
He added that European markets were stronger and dual-listed stocks were up offshore. This was also feeding through to the JSE.
On the resources index, London-listed Anglo American was up R2,65 to R343,90 and BHP Billiton ticked 55 cents higher to R145,15.
Petrochemicals group Sasol strengthened 1,67% or R4,04 to R245,79.
AngloGold Ashanti leaped 2,88% or R9,74 to R348,24, Gold Fields gained 2,3% or R2,75 to R122,25 and Harmony rebounded 1,9% or R1,75 to R93,75.
Kumba Iron Ore rallied 1,9% or R2,40 to R128,90.
While AngloPlat was up R8,50 at R893,50, Impala dipped 50 cents to R201,50.
There were few features among industrials.
Brand management group Barloworld was 55 cents better at R176,55 but transport and logistics group Imperial lost 70 cents to R161,80.
Tongaat-Hulett slipped 1,03% or R1,21 to R116,70.
Mittal Steel was 1,2% or R1,25 stronger at R105,25, while pulp and paper producer Sappi was 1,01% or R1 to the good at R100,50.
Construction group Murray & Roberts was bolstered 1,89% or 90 cents to R48,40.
Furniture group Steinhoff surged 3,48% or 83 cents to R24,65.
Retailer Truworths rallied 3,11% or R1,08 to R35,84, while Massmart was 1,2% or 90 cents higher at R75,90 after trading at a best-ever level of R77,50.
Edcon dipped 11 cents to R44,29. The counter soared over 11% to a record high of R45 on Thursday on news that its board had unanimously recommended to shareholders an offer from United States-based Bain Capital to acquire its entire ordinary share capital at R46 per share.
On the financial front, Sanlam climbed 15 cents to R18,81 and London-listed Old Mutual was 12 cents in the black at R25,02.
Nedbank notched up 1,27% or R1,75 to R139,75 and FirstRand firmed 17 cents to R22,59.
Standard Bank, however, eased 25 cents to R99,10. — I-Net Bridge