The JSE remained in positive territory just before midday on Thursday, but had come off a bit after reaching yet another high earlier in the session. Dealers said that futures activity was dominating trade, with world markets the catalyst for Thursday’s initial push onwards.
By 11.56am, the all-share index was up 0,42% at 26 420,910 after touching a highest-ever level of 26 506,131. Industrials climbed 0,88%, while the financial and banks indices firmed 0,49% and 0,4% respectively. Resources dipped 0,11%, however, and the platinum-mining index eased 0,23%, although the gold-mining index gained 0,32%.
The rand was bid at 7,18 per dollar from 7,20 when the JSE closed on Wednesday, while gold was quoted at $670,10 a troy ounce from $667,70/oz at the JSE’s last close.
“Futures have pulled back and they have been leading our market,” a dealer said.
She added that following the market’s phenomenal run in recent days, it was not surprising that there was possibly some profit-taking coming in.
Stronger world markets had been the catalyst for the JSE’s initial move higher on Thursday, she said.
While the Monetary Policy Committee was expected to leave interest rates unchanged, the market was adopting a cautious approach ahead of the rates announcement just after 3pm, the dealer concluded.
On the resources index, London-listed Anglo American was up a marginal 21 cents at R360,29, but BHP Billiton eased 65 cents to R153,10. Anglo and Billiton earlier traded at record highs of R368,90 and R155,47 respectively.
Kumba Iron Ore dropped 3,23% or R4,01 to R119,99. Before the opening, it reported earnings per share of 84 cents for its first two months of existence to end-December.
The company has also reported a R153-million expense arising from its sale of equity to the Sishen Iron Ore Company community trust following the split of Kumba Resources last year.
AngloGold Ashanti shed R2 to R344,50, but Gold Fields gained R1 to R126,50 and Harmony was 1,5% or R1,45 higher at R98,40.
While AngloPlat advanced 1,3% or R12,01 to R938,01, Impala lost 1,4% or R3 to R212. AngloPlat on Thursday reached a record high of R938,50.
Impala earlier reported interim diluted headline earnings per share of 821 cents for the half-year to end-December, compared with 350 cents in the same period a year ago, thanks largely to higher metals prices and a weaker rand.
The company has declared an interim dividend of 275 cents per share and lowered its dividend cover to 1,7, from 1,9 times previously.
The group reported record earnings of R4,3-billion on the back of high metal prices.
Among industrials, Swiss-listed luxury goods group Richemont rallied 1,91% or 77 cents to R41. London-listed brewer SABMiller was 56 cents better at R167,26.
Telkom jumped 2,26% or R3,71 to R167,81 and MTN Group rose 75 cents to R90,25 after trading at a lifetime high of R90,54.
Media group Naspers notched up 1,41% or R2,60 to R186,60.
Furniture group Steinhoff leaped 3,06% or 74 cents to R24,95.
Retailer Woolies rang up 1,07% or 22 cents to R20,87. Woolies on Thursday reported a 22,9% rise in its diluted headline earnings per share for the 26 weeks ended December from 51,9 cents at the interim stage in the prior year.
Revenue rose by 21% to R8,9-billion from a comparable R7,4-billion, with operating profit increasing 31,1% to R957,6-million from R730,3-million.
An interim dividend of 29,5 cents per share was declared, representing a 22,9% improvement on the 24 cents shareholders received at the interim stage last year.
Construction group Murray & Roberts was up 2,14% or R1,06 at R50,66. It earlier changed hands at a new high of R50,90.
On the financial front, Sanlam was 1,93% or R37 stronger at R19,57. London-listed Old Mutual added 15 cents to R25,56.
Standard Bank strengthened 76 cents to R97,61 and Absa added 90 cents to R129,90, while Nedbank was 50 cents in the black at R134. FirstRand, however, dipped 10 cents to R22,40. — I-Net Bridge