Get more Mail & Guardian
Subscribe or Login

Platinum miners, resources buoy JSE

The JSE remained firm on Monday as platinum mining and resources stocks posted good gains. Sentiment was generally positive, in line with global markets.

By 11.49am, the all-share index was up 1,90%. Resources added 2,47% and the platinum mining index was up 5,06%. However, the gold mining index shed 1,90%.

Banks inched up 2,34%, financials gained 2,16% and industrials were 1,15% better.

The rand was bid at 7,67 to the US dollar from 7,70 when the JSE closed on Friday, while gold was quoted at $863,35 a troy ounce from $854,27/oz
at the JSE’s last close.

“We are generally firmer across most of the sectors. However, golds are still on the weaker side, but there have been nice gains for the platinum stocks,” said a trader.

“Across the board we are seeing a generally firmer undertone, but world markets are contributing to that — even the banks are looking better,” the trader added.

Dow Jones Newswires reported that US stock futures paused on Monday after the last session’s run-up, with oil futures back on the move as the fighting between Russia and Georgia intensified over the weekend.

S&P 500 futures eased a half point to 1 291,70 while Nasdaq 100 futures rose three-quarters of a point to 1 924,70. Dow industrial futures fell nine points.

US stocks ended higher on Friday as strength in the dollar triggered losses for commodities, notably oil. Transport and housing stocks led the advance. The Dow industrials rallied 302 points, the S&P 500 rose 30 points and the Nasdaq Composite added 58 points.

In London, the FTSE was up 20,8 points. On the JSE, Anglo American was up R11,33, or 2,85%, to R409 and BHP Billiton rallied R7,01, or 3,17%, to R228,31.

Sasol added R4,06, or 1,01%, to R408. Platinum miner Anglo Platinum jumped R59,99, or 6,63%, to R965, Impala Platinum was R10,45, or 5%, at R219,45.

Among gold miners, AngloGold Ashanti was down R4,60, or 2,01%, to R224,40 and Gold Fields dropped R1,33, or 1,88%, to R69,50.

Among industrials, brewer SABMiller was up R2,37, or 1,43%, to R168,17 and PPC was R1,08, or 3,43%, higher at R32,58. Bidvest collected R2,49, or 2,45%, at R103,99.

Among banks, Standard Bank was up R2,43, or 2,79%, at R89,58, Nedbank collected 96 cents to R106,76 and Absa added R2, or 2%, to R102.

Construction firm Group Five rallied 80 cents to R43,90. It earlier reported fully diluted headline earnings per share of 398 cents for the year ended June from 233 cents a year ago.

Delta Electrical was up 26 cents, or 2,6% at R10,25. Earlier it reported attributable diluted headline earnings per share of 73,5 cents for the six months ended June from a loss of 60,6 cents a year ago. – I-Net Bridge

Subscribe for R500/year

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and get a 57% discount in your first year.

Related stories


If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here


Subscribers only

Coko vs S ruling: The case against a subjective test...

Acting judge Tembeka Ngcukaitobi’s acquittal of a rape suspect has raised controversy, but legal experts say the fault lay with legislators and not the court

DA’s egregious sexual harassment case finally begins

The party is accused of protecting a councillor, who’s also implicated in R1.2m graft

More top stories

Lucas Radebe: ‘My football career began behind my parents’ back’

Soccer legend Lucas ‘Rhoo’ Radebe is a busy man, but he made time in his hectic schedule to speak to Ntombizodwa Makhoba about his fondest childhood memories, how his soccer career began, and, as a father of eight, his legacy

Coko vs S ruling: The case against a subjective test...

Acting judge Tembeka Ngcukaitobi’s acquittal of a rape suspect has raised controversy, but legal experts say the fault lay with legislators and not the court

Defend journalists and media freedom in Eswatini

Journalists are censored through cruel and illegitimate detention, torture and the removal of means to disseminate information to citizens crying – and dying – for it

It’s safe to open the beaches, says UPL after chemical...

Agrochemical producer UPL said it has paid R250-million in chemical spill clean-up

press releases

Loading latest Press Releases…