Platinum producers lead bourse higher

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.