Despite reaching a record high at the opening, the JSE was in the red in noon trade on Thursday, beaten into retreat by the rand, which broke below the R6 per dollar level. Telkom, which was hammered after it announced that it planned to spend 30 billion rand over the next five years in capital investment on its fixed line operations, also dragged on the bourse.
The JSE roared to another record high on Wednesday morning, led by resources heavyweights Anglo American and BHP Billiton, which continued to gain ground in London. Dealers expressed surprise at the JSE’s rally, given the rand’s continued strength and the fact that commodity prices had eased from their overnight highs.
Profit-taking, following its strong run in recent days, saw the JSE in negative territory just after noon on Tuesday. A stronger rand, gold coming off its highs and weakness in dual-listed stocks offshore all encouraged the selling locally. By 12.07pm, the all-share index shed 0,68%.
The JSE was in positive territory just before midday on Monday, supported by higher commodity prices. Trade was thin, which amplified gains. By 11.53am, the all-share index added 1,01%. Resources rallied 1,82%, the platinum-mining index jumped 3,88% and the gold-mining index gained 0,67%.
After extending its phenomenal run earlier on Friday, the JSE was in the red just before noon after hitting profit-taking. The weakness was in line with European markets and softer precious metals prices. At 11.57am, the all share index was down 0,86% and 20 499,61.
The JSE was roaring ahead in noon trade on Thursday, fuelled by soaring precious metals prices. Firmer world markets gave the move added impetus. By 12.14pm, the all-share index added 1,35%. Resources rallied 2,15%, with the gold- and platinum-mining indices jumping 3,6% and 2,8% respectively.
The JSE continued its journey into uncharted territory on Monday morning, propelled by higher precious metals prices. Media reports surrounding AngloGold Ashanti, which sparked speculation of consolidation in the gold mining sector, gave the move added momentum.
The JSE touched a record high in morning trade on Friday, helped by a softer rand and a rebound in commodity prices. It was nonetheless a fairly uneventful morning’s trade. By 11.56am, the all-share index was up 0,77% at 20 315,37 after earlier touching a lifetime high of 20 324,09.
The JSE was firmer in noon trade on Thursday helped by positive US markets overnight. Strength in heavyweight resources stocks in London played a major role in the bourse’s strength. By 12.06pm, the all share index added 0,52%. Resources rallied 0,89% and the platinum mining index inched up 0,09%, but the gold mining index lost 0,77%.
The JSE was in the red in noon trade on Thursday, dragged down by weakness in heavyweight resources stocks offshore as well as futures activity related to the closeout which commenced at 12 noon. By 12:07, the all share and all share industrial indices were down 0,33% and 0,29% respectively.