Bourse posts fresh all-time high

The JSE reached a record high on Monday, with the industrial and top 40 indices also reaching new bests.

Rand-sensitive stocks including banks and financials, were lifted by a late surge in the currency after news that a parliamentary no-confidence vote in President Jacob Zuma would be conducted by secret ballot.

The all share gained 0.39% to 56‚163.6 points and the top 40 advanced 0.52%. Industrials added 0.54%‚ banks 1.11%‚ financials 0.35% and general retailers 0.9%. Food and drug retailers lost 1.47%‚ platinums 2.28% and gold-mining companies 1.15%. A strong rand and volatile precious metal prices helped push the platinum index down 2.28%.

Naspers was up 1.63%, to R2‚882.20, MTN 3.56%, to R120.65 and Telkom 1.39%, to R64.03.

AB InBev lost 1.37%, to R1‚585.04 and Richemont 1.63%, to R116.56.

Net1 UEPS fell 7.84%, to R115.20 after it said it had completed its purchases of an interest in Cell C and DNI, the wholesaler of Cell C kit in SA.

Private equity group Brait was down 1.8%, to R63.81.

Industrial group Bidvest added 1.65%, to R177.70 and Imperial Holdings 1.84%, to R186.37.

Steinhoff was up 1.77%, to R70.05 after announcing it was considering acquiring an interest in Shoprite. Shoprite was off 4.27%, to R200.10.

Anchor Capital lost 14.76%, to R4.85 after warning shareholders that earnings per share for the half year endedJune 30 would be at least 43% lower.

Global risk-on sentiment is boosting markets amid positive earnings reports and soft wage growth in the US, which is considering unwinding its monetary policy stimulus.

At 5.40pm, the Dow was flat and European markets mixed. The FTSE 100 had added 0.21%‚ while the DAX had dropped 0.42%.

Platinum was up 0.59%, to $969.24 an ounce and gold 0.1%, to $1‚259.45.

The top 40 Alsi futures index added 0.42%, to 49‚681 points‚ a record high for the second consecutive session. The number of contracts traded was 15‚536, from Friday’s 18‚163.