Min­ing shares boost stocks as dol­lar dives

Weekend Argus (Saturday Edition) - - ISSUES -

SOUTH Africa’s rand gained as much as 0.9 per­cent against the dol­lar yes­ter­day, rid­ing on the green­back’s gen­eral weak­ness af­ter dis­ap­point­ing US jobs data, while stocks were boosted by min­ing shares.

The Jo­han­nes­burg Top-40 in­dex gained 0.91 per­cent to 25 586.73 points. The All-Share in­dex added 0.89 per­cent to 28 266.54 points.

The rand ral­lied to a ses­sion high of 7.3550 to the green­back, but gave back some of the gains to trade at 7.3725 by 7.30pm (5.34pm GMT), 0.67 per­cent stronger than Thurs­day’s close at 7.4225.

The JSE min­ing and platinum in­dices in­creased by 1.2 per­cent and 1.61 per­cent, re­spec­tively. Other top per­form­ing blue-chips in­cluded Richemont, the world’s sec­ond­largest lux­ury goods group, which put on 2.32 per­cent to R26.01. South Africa’s con­sumer goods group Tiger Brands climbed 2.05 per­cent to R174. Lag­gards in­cluded Ned­bank Group, down 1.17 per­cent to R124.03, and African Bank, down 0.67 per­cent to R29.80.

Gov­ern­ment bonds were mixed, with the yield on the 2015 bond adding 2 ba­sis points to 8.585 per­cent, while that for the 2036 note was flat at 9.045 per­cent.

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