The JSE remained higher at midday on Tuesday as investors hurried to catch up with the United States equities market, which stayed open on Monday.
At noon, the all-share index was up 0,61% thanks to the 1,10% rise in resources. The platinum mining index jumped 2,13% but the gold mining index fell 0,14%.
Industrials added 0,24%, banks gained 0,09% and financials improved 0,26%.
The rand was bid at 7,13 per dollar from 7,12 when the JSE closed on Thursday, while gold was quoted at $676,60 a troy ounce from $675,45/oz at the JSE’s last close.
“There’s nothing driving the market today we are simply catching up with the US market and the Asian market,” a Johannesburg-based dealer said.
Wall Street was open on Monday while the local bourse was closed for a public holiday on Monday and last Friday — Easter — while the Nikkei traded.
He added that he expected the volumes to pick up on Wednesday in the run up to the South African Reserve Bank’s decision on Thursday afternoon.
On the resources index resources giant Anglo American rallied 1,15%, or R4,44, to R390,34 and BHP Billiton was up 1,29%, or R2,10, to R165,50.
Petrochemical group Sasol was added 99 cents to R236.
Gold stocks were among the causalities despite the gold price’s rally. AngloGold Ashanti fell 85 cents to R328,90, Goldfields was down 20 cents to R136,80 and DRDGold slumped 2,08%, or 10 cents, to R4,70.
Platinum producer Anglo Platinum gained 1,62%, or R18,99, Impala Platinum leaped 2,23%, or R5,10, to R233,60 and Northham Platinum rallied 4,28%, or R2,34, to R57.
On the industrial front, London-listed global brewer SABMiller slipped 77 cents to R157,83 but Barloworld gained 2,69%, or R4,95, to R189.
Steel maker Highveld Steel rallied 3,59%, or R2,91, to R84,01 while Mittal Steel added R1,05 to R122,05.
Fixed line operator Telkom was up 1,96%, or R3,35, to R174,35. It announced late on Thursday that it’s CEO Papi Molotsane had resigned and Reuben September had been appointed acting CEO.
Banking group Standard Bank was off 74 cents to R96,98 but Firstrand was up 19 cents to R24,56. – I-Net Bridge