JSE hits new high on four indices
THE JSE set a record high yesterday on the all-share‚ industrial‚ financial and bank indices.
The share market gathered steam in the afternoon session‚ boosted by a strong opening on Wall Street and short covering ahead of the futures closeout tomorrow‚ dealers said.
At 5pm‚ the JSE all-share index rallied 0.8% to 34 714.06 points‚ with resources lifting 0.63% and gold shares gaining 0.96%‚ while platinum counters lost 1.65%.
Financials climbed 1.19%‚ banking stocks lifted 1.4% and industrials were 0.73% firmer.
“It is interesting that buyers’ interest was not confined to basket-type shares. It was broad-based even in the face of indifferent news‚ with no change in the situation in Spanish and eurozone troubles‚” Sasfin Securities director David Shapiro said.
Materials and financial stocks led the way as major US benchmarks followed European markets higher‚ though Spain’s borrowing costs kept investors wary‚ Dow Jones Newswires reported.
The Federal Reserve’s monetary policy setting committee begins a two-day meeting‚ with a statement due out about midday today. Investors will be closely watching for hints the central bank is prepared to take additional steps to bolster the US economy.
London’s FTSE 100 index was up 1.84% in late trade.
On the JSE‚ Anglo American was up R3.30 to R282.30‚ BHP Billiton gained R2.51 to R243 and Sasol added R2.41 to R374.56.
AngloGold Ashanti gained R1.92 to R305‚ Gold Fields picked up 87 cents to R113.41 and Harmony Gold Mining rallied R2.08 to R87.
Anglo American Platinum lost R10 to R508 and Impala Platinum was down R3.23 to R146.25. Assore shed R7.50 to R305.
In industrials‚ Barloworld rose R1.87 to R82.87 and Richemont rallied 64c to R47.39.
In telecoms‚ Telkom added 49c to R20.84.
In the banking and financial sectors‚ Standard Bank was up R1.65 to R116.48‚ while FirstRand jumped 64c to R27.60‚ a new record.
Abil picked up 59c to R37.81 and Santam surged R13.38 to R178.38.
In construction‚ Basil Read Holdings gained 55c. – I-Net Bridge