Resource counters were buoyed by higher commodity prices on Tuesday, which continued to keep the JSE firm by midday trade.
By 11.56am, the JSE’s broader all-share index had lifted 0,64%. The platinum-mining index advanced 2,41%, resources collected 1,26% and the gold-mining index was up 0,55%. Banks gained 0,61%, financials added 0,1% but industrials were off 0,08%
The rand was bid at 7,86 to the United States dollar, unchanged from when the JSE closed on Monday, while gold was quoted at $931,38 a troy ounce from $928,75/oz at the JSE’s last close.
“It’s basically the resources story again. Gold, platinum and oil prices all jumped overnight and our resource stocks — especially the big heavyweights — are pulling this market up,” a trader said.
On the JSE, resources group Anglo American gained R3,40 to R509, BHP Billiton climbed R2,48 to R270,13 and Sasol advanced R11,50, or 2,74%, to R431.
Gold counter AngloGold Ashanti edged up R1,95 to R294 and Gold Fields improved 75 cents to R115,60.
Platinum-mining share Anglo Platinum collected R44,15, or 3,39%, to R1 347,15 and Impala Platinum strengthened R5,99, or 1,87%, to R326,99.
On the industrial front, Remgro fell R2,29, or 1,16%, to R194,71, Bidvest recovered R1,60, or 1,39%, to R116,50 and brewer SABMiller edged up 13 cents to R43,61.
Absa firmed R2,49, or 2,53%, to R101 and Nedbank was up 67 cents to R113,66. — I-Net Bridge