Min­ing com­pa­nies take the lau­rels on JSE

The Star Early Edition - - PRICES -

SOUTH African stocks soared by more than 3 per­cent on Fri­day led by min­ing com­pa­nies and track­ing global mar­kets after China, a ma­jor com­mod­ity con­sumer, cut in­ter­est rates to spur growth.

The bench­mark Top40 in­dex rose by 3.51 per­cent to 45 210.75 with all listed shares end­ing in the blue. The broader all share in­dex climbed 3.15 per­cent to 50 821.76

Jo­han­nes­burg’s main listed in­dices jumped the most in almost three years after China sur­prised mar­kets with its first in­ter­est rate cut in two years.

Iron ore pro­ducer As­sore rose 11.53 per­cent to R196.13, de­spite a strug­gling price for its com­mod­ity, while larger ri­val Kumba Iron Ore added 7.90 per­cent to R266.75.

Impala Plat­inum gained 8.84 per­cent to R85.60 and An­glo Amer­i­can

Plat­inum added 6.25 per­cent to close at R388.88. Ad­cock In­gram­rose 7 per­cent to R53.07 after it said it re­ported a R50 mil­lion after-tax profit in the three months to Septem­ber.

Trade was very ac­tive, with 252 mil­lion shares chang­ing hands.

The rand firmed against the dol­lar for the sec­ond straight day on Fri­day. It was bid at R10.9250 to the dol­lar at 5pm on Fri­day, 3.53c firmer than at the same time on Thurs­day.

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