The JSE extended its gains by midday on Friday as firmer world markets continued to direct it higher.
By 12.02pm, the JSE’s all-share index had collected 1,95%, led by a 2,95% advance in the platinum mining index. Resources added 2,73% and the gold mining index rose 1,83%. Industrials climbed 1,56%, and financials gained 1,05%, while banks were up 0,89%.
The rand was bid at seven to the dollar, from 7,02 when the JSE closed on Thursday, while gold was quoted at $802,00 a troy ounce from $795,35/oz at
the JSE’s last close.
“The JSE is up quite strongly from this morning’s gains. The US futures are helping us, they are up and it looks like it is going to be a strong US open, and the UK market opened firmer,” said a local equities trader.
By noon South African time, the UK’s FTSE 100 had risen 1,01%.
He added however that volumes on the JSE were light, as “all the guys were packing up for next year”, but he said that because of the lack of liquidity next week, the JSE might see some swings during the Christmas week.
Among resource stocks, BHP Billiton lifted R2,15, or 1,04%, to R208,85, Anglo American strengthened R11, or 2,74%, to R412 and Sasol rallied R17,15, or 5,24%, to R344,25 on the back of a strong oil price. Brent crude was at $91,22 a barrel.
Gold miner AngloGold Ashanti climbed R3, or 1,05%, to R288 and Goldfields perked up R3,73, or 3,99%, to R97,31, after falling 4,51% on Thursday on news that it expected production from its South African mines to fall by about 7% and its overall attributable production to drop 3,5% in the December quarter.
Platinum group Anglo Platinum rose R33, or 3,33%, to R1 023, Impala Platinum added R6,55, or 2,9%, to R232,05 and Lonmin was R9,47, or 2,25% higher, at R430,67.
Elsewhere, brewer SABMiller gained R4,10, or 2,25%, to R186,40 and Swiss-based luxury goods group Richemont was up R1,77, or 3,97%, to R46,31.
Fixed-line operator Telkom recovered R3,19, or 2,33%, to R140,20 and MTN Group lifted R4, or 3,19%, to R129,50.
In the bank sector Absa pocketed R2, or 1,82%, to R112 and Nedbank collected R2,01, or 1,53%, to R133. – I-Net Bridge