The JSE started to strengthen at midday after a weaker opening on Monday morning.
At 12.05pm the all-share index was up 0,45%. Resources strengthened 0,93%, while the gold and platinum indices were 1,03% and 0,75% firmer respectively. Industrials climbed 0,08% and financials lifted 0,15%. Banks increased 0,66%.
The rand was bid at 6,99 to the US dollar from 7,04 when the JSE closed on Friday, while gold was quoted at $650,72 a troy ounce from $650,75 at the JSE’s last close.
“The JSE was a bit better around midday as offshore markets were weaker. Recoveries have been seen in resources and banks, while platinum seems to be coming back,” said a Johannesburg-based trader.
He added that wages for platinum workers have created ongoing concerns and any news on an offer will affect the platinum price positively.
On the resource index, Anglo American climbed 5,01%, or R20,50, to R430 and BHP Billiton retreated R0,48 to R194,50.
Among gold counters, AngloGold Ashanti shed 0,41%, or R1,10, to R266,00 and Goldfields rose 1,86% to R111,44.
Platinum miner Anglo Platinum strengthened R4,49 to R1Â 168,50 and Impala Platinum increased 1,25% to R218,70.
On Friday, platinum producer Anglo Platinum presented new wage offers to its workers ranging between 8% and 10%.
Elsewhere, construction company Group Five was up 0,74%, or 40 cents, to R54,80 and PPC climbed R3,94 to R493,94.
Group Five has won a R1,8-billion contract from Transnet to widen Durban’s existing harbour by 100m and to increase the depth by 6m, it said on Monday.
Property loan stock company Vukile shed 0,44% to R11,25.
Vukile, which last week announced that it had applied for a dual listing on the Namibian stock exchange, has expanded its Namibian portfolio through the acquisition of BPI House in Windhoek for approximately R113-million.
Among banks, Absa climbed 0,95%, or R1,25, to R132,75 and Standard Bank increased 0,97%, or 95 cents, to R99,25.
Services group Bidvest fell 0,07%, or 10 cents, to R143,90. Bidvest has launched a new financial services brand called Bidvest Bank, which came into being on July 1.
Financial-services group Liberty International eased 1,32%, or R2,14, to R160,50.
In retail, JD Group eased 0,41% to R70,70 and Shoprite and Mr Price climbed 14 cents and 24 cents to R32,79 and R27,45 respectively.
Media companies Naspers and Johncom climbed 50 cents and R1,50 to R182,50 and R101,50 respectively. — I-Net Bridge