The JSE was in positive territory just before midday on Monday, assisted by a weaker rand. The gains came despite weaker world markets.
By 11.52am, the all-share index added 0,48%. Resources rallied 1,14%, the platinum-mining index jumped 1,85% and the gold-mining index climbed 0,38%. Industrials were flat (+0,01%), financials inched up 0,09%, but the banks index eased 0,12%.
The rand was bid at 7,24 per dollar from 7,14 when the JSE closed on Friday, while gold was quoted at $665 a troy ounce from $664,70/oz at the JSE’s last close.
“It is mainly the rand that is driving us. World markets are a bit weaker and commodities are not giving us much direction,” a dealer said.
The Dow was down on Friday and on Monday morning European markets were weaker. Japanese markets were closed on Monday for a holiday.
The majority of dual-listed stocks were down offshore, but they were up locally due to the translation effect of the weaker currency.
In morning trade, London-listed diversified resources group Anglo American added 1,45% or R4,95 to R346. BHP Billiton was 1,06% or R1,55 better at R147,30.
Petrochemicals group Sasol picked up R1,10 to R245,35.
AngloGold Ashanti gained R2,50 to R351 and Harmony was 49 cents higher at R95,50. Gold Fields was unchanged at R124,50 despite going ex-dividend of 90 cents per share.
Impala Platinum leaped 1,99% or R4 to R205,50 and AngloPlat advanced 1,81% or R16 to R900.
AngloPlat earlier reported a 193% increase in diluted headline earnings per share to 5 352 cents for the full year to end-December, thanks to higher metals prices and increased volumes.
The company has declared a final dividend of 3 900 cents per share, giving a total 2006 dividend of 5 300 cents per share.
Kumba Iron Ore rose 2,92% or R3,59 to R126,59, while Exxaro was up 2,62% or R1,86 at R72,90.
Toronto-listed uranium company Uranium One was a feature, rocketing 9,38% or R9 to a record high of R105. This followed the announcement that it has agreed to acquire all of the outstanding common shares in UrAsia Energy — a uranium producer with mining operations in Kazakhstan.
The acquisition will result in the creation of a new, globally diversified uranium producer with a combined fully diluted market capitalisation of approximately $5-billion
Among industrials, London-listed brewer SABMiller strengthened 1,11% or R1,80 to R163,76. Swiss-listed luxury goods group Richemont ticked 20 cents higher to R40,45.
Transport and logistics group Imperial improved R1,61 to R165,61, while food group Tiger Brands roared ahead 1,1% or R1,93 to R176,63.
Apparel retailer Foschini firmed 1,23% or 80 cents to R65,80. It earlier traded at a lifetime high of R66.
Another share to break new ground was construction group Murray & Roberts, which touched R50 for the first time. However, it was last quoted at R48,65, down 35 cents from its overnight close. Aveng gave up 30 cents to R36,70, but Group Five jumped 1,58% or 75 cents to R48,25.
Cellular network operator MTN Group surrendered 1,09% or 95 cents to R85,90. Telkom lost R1,26d to R158,50.
On the financial front, Sanlam firmed 1,33% or 25 cents to R19,06. London-listed Old Mutual was 12 cents to the good at R25,11.
Banking group FirstRand rose 1,06% or 24 cents to R22,85 and its major shareholder RMB Holdings strengthened 26 cents to R33,70.
Absa, however, weakened 1,14% or R1,50 to R129,90, Nedbank (NED) dropped 1,26% or R1,71 to R134,30 and Standard Bank shed 75 cents to R97,25. — I-Net Bridge