JSE starts new year on positive note as upbeat Chinese figures lift markets

THE JSE began the new year on a positive note, even if in subdued trade, following the release of market-pleasing purchasing managers’ data from China.

The rand lost ground as the dollar surged on expectations of accelerated US interest-rate increases.

The JSE all-share index ended 0.72% firmer at 51 020.7 points, its first close above 51 000 since the third week of November. Industrials added 0.42%, resources 1.51%, banks 0.82% and financials 0.54%.

The day’s real big winners, however, were platinum miners which notched up 5.78%.

Gold miners, however, fell victim to a lower bullion price, owing to the resurgent dollar, and finished the session 0.36% lower.

Among individual stocks, Lonmin rocketed 16.07% to R27.23, Impala 3.56% to R44.26 and Anglo American Platinum 4.66% to R276.72.

Gold miner Harmony lost 1.3% to R31.12 and Anglogold Ashanti 1.08% to R150.93.

BHP Billiton added 2.34% to R223.80 and Glencore was up 2.72% at R47.95.

Nedbank did best of the big four banks, up 1.31% at R241.24.

Food retailer Spar softened 0.42% to R197.75, while Massmart added 1.07% to R127.51.

Group Five gave up 8.18% to R22.55. Redefine stood out in the property sector, up 2.77% to R11.50. MTN was up 3.04% to R130. Alsi futures gained 1.28% to 44 871 points with 23 494 contracts traded from 19 438 on December 30.

The market is now awaiting US nonfarm employment data due at the end of the week. – BusinessLive