Search
Welcome
  • Login
  • Register
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
Not a subscriber? Subscribe here
Register Now
  • Login
  • Register
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
                       
Careers & Tenders
Newsletters
Subscribe
The Mail & Guardian
      SUBSCRIBE / Support independent journalism                   CAREERS & TENDERS / Visit careers.mg.co.za                   WHATSAPP? / Follow the M&G WhatsApp channel here            
Login / Register

LOGIN

  • News
    • Africa
    • Business
    • Editorial
    • Education
    • Health
    • Motoring
    • National
    • Sci-tech
    • Sport
    • World
  • Thought Leader
  • Politics
  • Green Guardian
  • Friday
  • Features
    • Buthelezi, the King’s Hand
    • Cabinet Report Cards 2023
    • Cabinet Report Cards 2012-2021
    • The Fiscal Cliff
  • Research World
    • Submissions
    • Papers
  • 200 Young South Africans
  • Events
    • 200 Young South Africans
    • Greening The Future
    • Power Of Women
      • 2024 Edition
    • Critical Thinking Forum
    • Youth Summit
    • Webinars
  • More..
    • Partners
    • Podcasts
    • Crossword
    • Digital Editions
    • Register
    • WhatsApp Channel
    • Login
    • Lost Password

           
Article
/ 16 January 2009

JSE stays firm on bargain-hunting

By Staff Reporter
Facebook X Email LinkedIn WhatsApp

South African stocks remained in positive territory by noon on Friday, tracking movements in global markets with resources and precious metals holding firmly.

The JSE all-share index had gained 2,31%, with resources adding 4,40%, platinum counters gaining 4,98% and gold miners firming 5,11%.

Banks collected 0,99%, financials edged up 0,81% and industrials rose 0,81%.

The rand was last bid at R9,92 to the dollar, from R10,11 when the JSE closed on Thursday. Gold was quoted at $823,23 a troy ounce from $811,35/oz at the JSE’s last close, and platinum was at $936/oz from its previous close of $922,50/oz.

“After the recent hefty losses it’s nice to see an up day for a change,” a local trader said.

“We are tracking movements in world markets. Buying has come in at the current low levels. Metal prices are slightly better, on the back of the weaker dollar, so metal stocks are really benefiting at the moment.

“The rand has strengthened but at the moment it’s not really doing anything for local stocks.

“Maybe stocks in the US will continue this upward tick ahead of the inauguration. Locally, we will continue to watch and track international markets,” he added.

Dow Jones Newswires reports that European stocks gained, as investors looked to snap up bargains after the recent hefty sell off.

The FSTE was last up 2,12%.

Asian markets rose to recover some of the lost ground from the previous session as a weaker yen aided Japanese exporters and investors pinned hopes on an economic stimulus package from the incoming US administration.

Japan’s Nikkei 225 ended 2,6% higher and Hong Kong’s Hang Seng climbed 0,1%.

US stocks are expected to rise sharply at the open, lifted by the government package for Bank of America with a relief rally on the cards, said Martin Slaney, trader at GFT Global Markets.

He called the DJIA to open up 114 points and the S&P 500 up 13 points.

On the JSE, Anglo American gained R11,46, or 6,08%, to R200 and BHP Billiton added R7,45, or 4,46%, to R174,50.

Petrochemicals giant Sasol was up R4,24, or 1,49%, to R288,24.

Highveld Steel rose R3,82, or 6,80%, to R60, ArcelorMittal was up R2,12, or 2,70%, to R80,63 and Kumba Iron Ore collected R5,12, or 3,66%, to R145,13.

Among gold miners, AngloGold Ashanti firmed R12,50, or 5,26%, to R250, Gold Fields added R4,13, or 5,34%, to R81,50 and Harmony rose R384, or 4,15% to R96,34.

Platinum miner Anglo Platinum jumped R31,41, or 6,48%, to R516,40, Impala Platinum was up R6, or 4,80%, to R131 and Lonmin collected R6,40, or 5,22%, to R129.

In diversified miners, African Rainbow rose R4,52, or 4,66%, to R101,52 and Exxaro was up R1,57, or 2,28%, to R70,57.

Brewer SABMiller added R3,95, or 2,55%, to R158,69, Barloworld collected R1,25, or 3,38%, to R38,25 and British American Tobacco firmed R6,65, or 2,61%, to R261,74.

Banker FirstRand was up 33 cents, or 2,26%, to R14,92 and all the other banks were flat.

Financial services group Old Mutual was up 9 cents, or 1,08%, to R154,65 and Sanlam added 36 cents, or 2,18%, to R16,85.

Media group Naspers gained R1,59, or 1,04%, to R154,65.

Retailer Foschini lost 45 cents to R47,05. The group said earlier that Christmas trading was above expectation across all divisions with sales growth for December of 9,9% and same store growth of 3%.

At its interim results Foschini had indicated that it expected the retail environment to be difficult for the remainder of the year as consumers have to contend with high interest rates and high inflation.

Group sales for the three months October to December 2008 increased by 8,7% with same store sales growing by 2,7%.

Steinhoff gained 67 cents, or 5,72%, to R12,38, Woolies was up 15 cents, or 1,19%, to R12,45 but JD Group gave up R1,50, or 4,01%, to R35,90.

Construction group Group Five collected 35 cents, or 1,04%, to R34,05 but WBHO was off R1,60, or 1,47%, to R107,40.

Murray & Roberts collected 27 cents to R46,77. The group said earlier that it intended to contest the reasons given by the Competition Commission for prohibiting a proposed merger between Murray & Roberts subsidiary Much Asphalt with a small asphalt producer in the Pretoria area.

MTN Group gained 77 cents to R100,27 and Telkom was up R1,42, or 1,31%, to R110,02. — I-Net Bridge

Tags: All Share Index, Johannesburg Stock Exchange, South Africa

Latest News

  • National bird in peril: Blue crane numbers plummet in Overberg
  • Expert says power imbalances shaped Mengo’s response to alleged sexual harassment by judge
  • The real test isn’t the GNU — it’s whether voters see through the elites
  • HIV research: Professor screw it, let’s do it
  • Hindu nationalist Ram Madhav urges Indian South Africans to deepen ties with world’s largest emerging economy
  • Y2 NRF-rated young scholar pursues cutting-edge research to benefit society
  • Helenvale celebrates grand opening of Extension 12 Play Park
  • Spribe’s Suite: Why Aviator soars above the rest in South Africa’s online gaming scene
  • Welcome to America

Editors Pick

Politics
9075 Dv
National Health Insurance: DA cites government failures and risk of looting
Crossword
Crossword
Cryptic Crossword JDE 486
Press Releases
Pow 2024 (2)
Call for nominations: Power of Women 2024

Ramaphosa makes Alistair Ruiters special advisor for investment promotion

1000157764

Act now to deal with the masculinity and mental health crisis in South Africa

Suicide

Starlink raises questions about necessity and relevance of BEE laws

Musk's extraordinary tirade against Unsworth was widely condemned

MAIL & GUARDIAN

ABOUT

About
Contact
Advertise

SUBSCRIPTIONS

Subscribe
Newsletters

FOLLOW

WhatsApp Channel
Twitter
Facebook
YouTube
Instagram
LinkedIn
TikTok
Threads

FLAGSHIP EVENTS

200 Young South Africans
Power Of Women
Greening The Future

LEGAL & CORRECTIONS

Privacy Policy
Cookie Policy
Ethics & Social Media Policy

RESOURCES

Mail & Guardian Careers
Property for sale


Mail & Guardian

© 2025 The Mail & Guardian. All rights reserved.

  • Login
  • Register
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
body::-webkit-scrollbar { width: 7px; } body::-webkit-scrollbar-track { border-radius: 10px; background: #f0f0f0; } body::-webkit-scrollbar-thumb { border-radius: 50px; background: #dfdbdb }