The JSE retained its strong tone at midday on Friday, marching towards the historic 30 000 level following a record-breaking performance on Wall Street overnight.
At 12.02pm, the all-share index was up 0,68% at 29 992,470. Resources gained 0,38%, the gold-mining index added 0,57% but the platinum-mining index fell 0,39%. Financials climbed 1,15%, industrials were up 0,78% and banks were 0,75% better.
The rand was bid at 6,95 to the United States dollar from 6,97 when the JSE closed on Thursday, while gold was quoted at $667,50 a troy ounce from $668,20 at the JSE’s last close.
“The march to the 30 000 level is unstoppable. Europe is holding on firm after America’s big surge last night [Thursday],” one trader said.
He added that news on mining deals remained at the centre of it all after Alcoa abandoned its $28-billion hostile takeover offer for Alcan, which became a R38,1-billion takeover target by Rio Tinto on Thursday.
“I think more deals, counter-offers are in the pipeline among global resource giants,” the trader said.
Melbourne-based resource giant BHP Billiton, which gained more than 2% Thursday on the back of M&A news, was up just 65 cents on Friday morning to a fresh trading high of R218,35.
Anglo American gained R3,01 to R469,01.
Synfuels maker Sasol added 1,19%, or R3,30, to R281,30.
Among gold counters, AngloGold Ashanti inched up 25 cents to R299 and Gold Fields was up 75 cents to R118.
Ferrochrome producer Merafe slumped 4,28%, or eight cents, to R1,79. It said late on Thursday that it expects to make an interim profit after recording a net loss of R28-million in the same period last year.
Impala Platinum gained 65 cents to R229,30.
Industrial brands management group Barloworld climbed 2,18%, or R2,75, to R128,75 and sugar maker Illovo was up 1,33%, or 32 cents, to R24,34.
Life insurer Old Mutual rose 2,64%, or 63 cents, to R24,53 and Sanlam surged 2,22%, or 50 cents, to R23,05. — I-Net Bridge