The JSE edged into positive territory by noon on Monday with a trader citing the weaker local currency
as a booster for resource stocks which had led the downfall in early trade.
By 11.57am, the JSE all-share index had edged up 0,18%, with resources collecting 0,12%. However, gold miners edged down 0,10% and platinum counters weakened 0,36%.
Banks were flat (up 0,02%), financials gained 0,98% and industrials were flat (down 0,08%).
The rand was last bid at 9,93 to the dollar, from 9,72 when the JSE closed on Friday, gold was last quoted at $846,07 a troy ounce from $848/oz at the JSE’s last close and platinum was at $991,50/oz from its
previous close of $992,50/oz.
“It’s very choppy out there, but we managed to turn positive,” a trader said.
“The rand is weaker and that is helping the market, particularly resources, a lot.”
She pointed out that the local rand was also preventing the JSE from falling as much as world markets.
“We will have to watch and continue to take direction from world markets,” she added.
Anglo American eased 78 cents to R221,50 and BHP Billiton was off 50 cents to R186,94.
Petrochemicals giant Sasol gained R5,90, or 1,89%, to R318.
ArcelorMittal firmed R2,50, or 2,63%, to R97,50, but Kumba Iron Ore lost R3, or 1,82%, to R162.
Gold miner AngloGold Ashanti weakened R1 to R250,50 and Gold Fields eased 25 cents to R88,50, but Harmony collected 86 cents to R101,35.
Platinum miner Anglo Platinum was R4,36 firmer at R575,11 and Lonmin added 44 cents to R151,34, but Impala Platinum was off R1,32 to R147,99.
In diversified miners, African Rainbow was up R3,75, or 3,07%, to R125,75 while Exxaro eased 33 cents to R73,17.
Brewer SABMiller edged up 46 cents to R165,21 and British American Tobacco added R4,50, or 1, 66%, to R275.
However, Barloworld gave up R2, or 4,44%, to R43,
Bidvest lost R1,09, or 1,04%, to R103,91 and Imperial weakened R1,89, or 3,13%, to R58,41.
Standard Bank was down 39 cents to R85,68 but Absa gained R1,70, or 1,57%, to R109,70.
Financial services group Old Mutual rose 73 cents, or 8,10%, to R9,74 and Sanlam collected 25 cents, or 1,45%, to R17,45.
Retailer Pick ‘n Pay (PIK) added 85 cents, or 2,39%, to R36,45 and Foschini was up R1,20, or 2,41%, to R51, but JD Group gave up 42 cents, or 1,07%, to R38,68 and Steinhoff shed 40 cents, or 3,09%, to R12,55.
Construction group Aveng was up 53 cents, or 1,65%, to R32,64 and WBHO rose R1,45, or 1,26%, to R116,50.
Telecommunications group MTN Group edged down seven cents to R104,83, but Telkom was up R1,19, or 1,03%, to R116,19. – I-Net Bridge