Bourse makes solid gains, led by An­glo

The Star Early Edition - - PRICES - Reuters

STOCKS notched up solid gains yes­ter­day, led by An­glo Amer­i­can, which rose sharply in the wake of a Chi­nese-in­spired met­als rally.

The bench­mark JSE Top40 in­dex climbed 1.61 per­cent to 45 019.8 points, while the wider all share in­dex added 1.35 per­cent to 51 740.17 points.

An­glo Amer­i­can ended 7.2 per­cent higher at R205.40 af­ter cop­per climbed 1.3 per­cent, aided by a weaker dol­lar and on fur­ther signs of eco­nomic re­cov­ery in China.

Plat­inum hit a two-month high of $981.90 (R13 450) an ounce in the last ses­sion and was slightly firmer yes­ter­day.

Other min­ing com­pa­nies chalk­ing up gains in­cluded Glen­core, which was 4.45 per­cent higher at R51.40 and BHP Bil­li­ton, up 4.16 per­cent to R231.59. Dual-listed min­ers such as An­glo and Glen­core also got a lift from ster­ling weak­ness and the FTSE’s record run.

Mean­while, the Stan­dard & Poor’s 500 and the Nas­daq were flat yes­ter­day af­ter­noon, while Goldman Sachs led the Dow Jones in­dus­trial av­er­age lower, as in­vestors await the earn­ings sea­son to test if Wall Street’s record lev­els are jus­ti­fied by cor­po­rate earn­ings in the fourth quar­ter.

Banks have led a record-break­ing run in US eq­ui­ties since Don­ald Trump’s elec­tion on Novem­ber 8.

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