The JSE extended gains by noon on Thursday supported by resource counters in what a trader said was a session of catch-up after Wednesday’s public holiday.
By 12.17pm, the JSE all-share index had gained 1,49%. Resources added 1,56% but platinum counters eased 0,19% and gold miners lost 1,59%.
Banks firmed 2,18%, financials were up 1,72% and industrials rose 1,17%.
The rand was last bid at 8,91 to the dollar, from 9,08 when the JSE closed on Tuesday. Gold was quoted at $892,90/oz a troy ounce from $887,88/oz at the JSE’s last close, and platinum was at $1 183.50/oz, from $1 168,50 at the previous close.
“We followed Eastern markets higher this morning, we are also playing catch-up after we were closed yesterday for the elections,” the trader said.
“We are seeing some buying coming into the market, although we are still seeing some consolidation in platinum and gold stocks. But it does seem like there is some support coming in for these gold stocks.
“Resources are looking good. Overall, we are seeing some buying coming in at these low levels.
“Markets are up after coming down recently, and for the rest of the day we will eye the US and take direction from there,” he said.
Anglo American was up R3,77, or 2,24%, to R172,01 and BHP Billiton added R5,01, or 2,86%, to R180.
Petrochemicals group Sasol put on R7,15, or 2,77%, to R265,70.
ArcelorMittal gained R1,85, or 2,39%, to R79,36 and Highveld Steel rose R1,41, or 2,16%, to R66,80.
Among gold miners, AngloGold Ashanti lost R3,09, or 1,12%, to R274,03, Gold Fields fell R2,64, or 2,73%, to R94,06 and Harmony gave up R1, or 1,28%, to R77.
Platinum miner Anglo Platinum was barely changed, down one cent, to R421,99 but Lonmin firmed R5,70, or 3,41%, to R172,90.
In diversified miners, African Rainbow was up R6,88, or 6,39%, to R114,51, Exxaro rose R1,30, or 2,11%, to R62,80 and Hulamin collected 25 cents, or 2,33%, to R11.
Among industrials on the JSE, SABMiller gave up R1,72, or 1,25%, to R135,68 but Imperial was up R1,75, or 3,37%, to R53,75, Bidvest added R1,35, or 1,57%, to R87,36 and Barloworld gained R1,20, or 3,65%, to R34,10.
Standard Bank was up R1,54, or 1,95%, to R80,54,
Absa gained R2,25, or 2,46%, to R93,75 and FirstRand put on 36 cents, or 2,98%, to R12,46.
Financial services group Old Mutual collected 22 cents, or 3,03%, to R7,47 and Sanlam added 24 cents, or 1,59%, to R15,37.
Media group Naspers rose R8,13, or 5,05%, to R169,12.
Woolies put on 49 cents, or 4,19%, to R12,19, Pick n Pay firmed R1,35, or 4,65%, to R30,40, Foschini was up R1,85, or 4,10%, to R47 and Mr Price added R1,02, or 3,96%, to R26,76.
Construction group Aveng rose 54 cents, or 1,88%, to R29,22, Group Five gained 74 cents, or 2,64%, to R28,74 and Murray & Roberts was up R1,03, or 2,44%, to R43,17.
MTN Group firmed R2,08, or 2,05%, to R103,50 and Telkom was up R3,28, or 3,16%, to R107,08. – I-Net Bridge