Good buying interest keeps JSE firm

Good buying interest was seen across the board on the JSE on Thursday and by midday the all-share index was up 224 points, with one trader speculating that it could close above the 30 000 level.


A trader said the JSE was approaching its all-time high of 30 046,3, reached on Tuesday.

“If it stays above this level and closes over 30 000 for the first time, this will be a new psychological support for investors. Every time it touches these levels, it comes right down again,” said a local trader.

By 12.01pm, the JSE’s all-share index had climbed 0,67% to 30 011 points. Banks collected 1,76% and financials were up 1,31%.
The gold-mining index rose 0,98%, resources advanced 0,46% and the platinum-mining index edged up a slight 0,07%. Industrials recovered 0,7%.

The rand was bid at 6,88 to the United States dollar, from 6,93 when the JSE closed on Wednesday, while gold was quoted at $732,10 a troy ounce from $727,85 at the JSE’s last close.

Earlier this week, resources were driving the market, but banks and financials were coming back nicely, the trader added.

By midday, financial stock Investec Ltd had climbed 1,34%, or 98 cents, to R74,38 and Investec Plc was 1,93%, or R1,38, higher at R72,98.

Standard Bank lifted R1,95, or 1,96%, to R101,35 and Absa collected R3,55, or 2,91%, to R125,35.

In the resources sector, Anglo American edged up 97 cents to R455 and BHP Billiton was up 150 cents to R239. Petrochemicals group Sasol collected 190 cents to R305,85.

Kumba Iron Ore strengthened R2 to R237 and Exxaro jumped R1 to R89,50. Mittal Steel was up R3,10, or 2,36%, to R134,60.

Gold miner AngloGold was up R3,05 to R321,30, Goldfields gained R1,50, or 1,21%, to R125,50 and Harmony added 68 cents to R83,88.

In the platinum sector, Angloplatinum added R1 to R1 071, but Impala was down 12 cents to R242,88. Lonmin rose R6,20, or 1,36%, to R463,20 and Aquarius Platinum advanced R3, or 1,15%, to R263.


Media stock Naspers-N rallied 3,11%, or R5,59, to R185,50 and Johncom perked up R1,01, or 1,17%, to R87.

In the retail sector, JD Group collected 2,56%, or R1,49, to R59,68, while Lewis was off 2,15%, or R1,29, to R58,71. Spar rose R2, or 3,77%, to R55 and Shoprite added 3,35%, or R1,20, to R37.

In the transport sector, Trencor jumped 4,62%, or R1,50, to R34. Textainer Group Holdings, Trencor’s 71,7% subsidiary, announced on Thursday that it has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of its common shares.

In the building and construction sector, Ceramic Industries dipped 2,41%, or R3,90, to R158,10.

Murray and Roberts shot up 3,83%, or R3,25, to R88,15 and Basil Read Holdings advanced 88 cents, or 2,78%, to R32,48.

Fixed line operator Telkom added R1 to R171 and MTN Group was R1,63, or 1,53% higher, at R108,33.—I-Net Bridge

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