Bourse higher, buoyed by mining firms
STOCKS closed in the black yesterday, lifted for a second day by large mining companies Anglo American and BHP Billiton.
The benchmark JSE Top40 index was up 1.61 percent at 45 745.62 points, while the broader all share index advanced 1.35 percent to 52 437.91 points.
Anglo American was the biggest gainer among the blue chips. The diversified mining firm climbed 5.43 percent to R216.55, scaling a onemonth high of R217.82 in intra-day trading. BHP Billiton gained 3.49 percent to close at R239.68. Impala Platinum (Implats) inched up 0.72 percent to R47.86. The firm said yesterday it planned to sell its chrome business to focus on its core business.
Implats has a 65 percent interest in Impala Chrome and planned to dispose of it, the company said in a newspaper advertisement this week inviting potential purchasers.
Trading was below par with 201 million shares changing hands compared to the last year’s daily average of 296 million, according to preliminary bourse data.
Meanwhile, Wall Street shares rose in the afternoon ahead of a news conference by US President-elect Donald Trump, in which he was expected to provide more details about his plans.