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17 Apr 2008 12:56
The JSE was trading just off its new record high by midday on Thursday as world markets and resources continued to add support.
In the morning session, the bourse broke through Wednesday’s record and hit a fresh high of 32 127.051 points.
By midday, the JSE’s broader all-share index had gained 0,8% to 32,112,15 points.
The rand was bid at R7,89 to the dollar from R7,90 when the JSE closed on Wednesday, while gold was quoted at $950,85 a troy ounce from $947,50/oz at the JSE’s last close.
“This market just wants to go one way. It’s following world markets and it’s also still very much resource based, so it looks like this market wants to push higher,” a trader said.
He added that counters such as BHP Billiton, Anglo American and Sasol were strong and the rand was looking slightly weaker, which was driving the market.
One the JSE, resources group Anglo American added R4,83 to R536,50 and BHP Billiton lifted R3,49, or 1,21%, to R290,79 but Sasol eased 24 cents to R442,01.
AngloGold Ashanti weakened R5,50, or 1,85%, to R292, Gold Fields was 89 cents higher, at R119,39 and Harmony climbed R3,15, or 3,41%, to R95,65.
Anglo Platinum shed 25 cents to R1 349,75, Impala Platinum edged up R1,50 to R337,50 and Lonmin was two rand better, at R510.
Building and construction group Aveng shot up R2,75, or 5,07%, to R57 and Murray & Roberts was up R1,18, or 1,34%, to R89,20.
Brewer SABMiller rallied R9,40, or 5,4%, to R183,50, but luxury-goods group Richemont had only inched up two cents to R45,50.
Investec plc firmed two rand, or 3,59%, to R57,70 and Absa advanced R1,19, or 1,2%, to R100,49.—I-Net Bridge
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