Plat­inum pro­duc­ers lead bourse higher

The Star Early Edition - - PRICES - Reuters

STOCKS gained yes­ter­day, led by plat­inum pro­duc­ers that got a lift from higher spot prices.

The bench­mark JSE Top40 in­dex rose 0.49 per­cent to 46 461.91 points, while the broader all share in­dex closed 0.57 per­cent higher at 53 342.04 points. Big ad­vancers on the day in­cluded

Im­pala Plat­inum, which jumped 7.84 per­cent to R55, An­glo Amer­i­can Plat­inum added 5.54 per­cent to R357.51, while Northam Plat­inum ad­vanced 0.37 per­cent to R48.90.

Pal­la­dium was up 1.2 per­cent at $785.58 (R10 623) an ounce after hit­ting $795.60, its high­est since May 2015, in the pre­vi­ous ses­sion.

Mean­while, stocks crept higher world­wide yes­ter­day as in­vestors looked past US Pres­i­dent Don­ald Trump’s pro­tec­tion­ist rhetoric and fo­cused on en­cour­ag­ing eco­nomic data and quar­terly earn­ings re­ports.

MSCI’s world in­dex, which tracks shares in 46 coun­tries, was up 0.33 per­cent in the af­ter­noon, helped by signs of a re­vival of eco­nomic ac­tiv­ity around the world.

US stocks re­cov­ered ground after Mon­day’s dip.

With earn­ings gath­er­ing pace, in­vestors are hop­ing that cor­po­rate per­for­mance can jus­tify mar­ket val­u­a­tions, given the re­cent rally that drove Wall Street to record highs.

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