Higher com­mod­ity prices boost JSE

The Star Early Edition - - PRICES -

STOCKS gained yes­ter­day, as emerg­ing mar­kets were helped by buoy­ant com­mod­ity prices.

Pre­cious metal pro­duc­ers led the way as bench­mark JSE Top40 in­dex climbed 1 per­cent to 46 237.18 points, while the broader all share in­dex ad­vanced 0.97 per­cent to 53 040.48 points.

Gold and plat­inum group met­als min­ers ral­lied as both bul­lion and pal­la­dium touched two-month highs. A weaker dol­lar makes pre­cious met­als cheaper for hold­ers of other cur­ren­cies. An­glo Amer­i­can Plat­inum was the big­gest gainer among the blue chips, up 9.28 per­cent to R338.75.

Shares in Sibanye Gold, a bul­lion pro­ducer with a grow­ing port­fo­lio of plat­inum as­sets, in­creased 6.39 per­cent to close at R28.99, while Im­pala

Plat­inum was up 4.94 per­cent to R51.

MTN, which counts Nige­ria as its big­gest mar­ket, gained af­ter Nige­ria’s com­mu­ni­ca­tions min­is­ter told Reuters that the gov­ern­ment must not scare the telecom­mu­ni­ca­tions com­pany away. MTN gained 1.29 per­cent to end the ses­sion R127.11.

Trad­ing was below par, with 185 mil­lion shares chang­ing hands, com­pared to the last year’s daily av­er­age of 296 mil­lion, ac­cord­ing to pre­lim­i­nary bourse data.

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