JSE edges higher

Independent Newspapers

The JSE. Photo: Simphiwe Mbokazi.

The JSE opened firmer on Wednesday but eased back as European stocks fell despite the higher opening calls.

Trading is expected to be choppy on Wednesday with the US markets closed for a public holiday.

At 09:24 local time‚ the JSE all-share index was up 0.27% to 34‚078.23 points‚ with resources nudging up 0.19%‚ gold shares lifting 0.83% and platinum counters gaining 0.31%.

Financials lifted 0.41%‚ but banking stocks were flat (0.07%) and industrials firmed 0.41%.

The rand was trading at 8.10 to the US dollar‚ from 8.08 at the JSE’s close on Tuesday‚ while gold exchanged hands at US$1‚614.94 a troy ounce from US$1‚618.60/oz at the JSE’s previous close and platinum was quoted at $1‚481.50/oz‚ from $1‚476.50/oz previously.

“Away from the resources‚ which remain the soft spot‚ our market continues to punch above its weight‚” said Ferdi Heyneke‚ portfolio manager at Afrifocus Securities. “Industrials and retailers‚ for instance‚ continued to push stronger with some of the counters at their record levels.”

In Europe‚ London’s FTSE 100 index was down 0.16%.

European equity markets closed higher for the past three sessions‚ with many commentators expecting the European Central Bank to cut its main rate and the Bank of England to extend its bond-buying programme‚ following their monthly rate-setting meetings this week‚ Dow Jones Newswires reported.

In Asia‚ stocks were mixed with Japan’s Nikkei average ending the session 0.41% higher while the Hang Seng index was flat by 09:24 SA time.

On the JSE‚ Anglo American (AGL) was down 57 cents to R272.50‚ BHP Billiton (BIL) inched up four cents to R236.66 and Sasol (SOL) garnered R1.43 to R348.68.

AngloGold Ashanti (ANG) was up R3.83‚ or 1.39%‚ to R279.80 and Gold Fields (GFI) gained 37 cents to R102.40.

In platinum stocks‚ Anglo American Platinum (AMS) recovered R1.78 to R444.62‚ Impala Platinum (IMP) garnered 37 cents to R130.57 and Aquarius Platinum (AQP) gained eight cents‚ or R1.25%‚ to R6.48

Among other miners‚ Exxaro (EXX) lifted R2.05‚ or 1.05%‚ to R197.17‚ while Assore (ASR) lost R2.89‚ or 1%‚ to R287.01

In industrials‚ Barloworld (BAW) rose R1.87‚ or 2.33%‚ to R82.27.

In telecoms‚ MTN (MTN) gained R1.95‚ or 1.37%‚ to 143.95.

Among banks‚ Nedbank (NED) gained R1.26 to R176.26 and Abil (ABL) was up 15 cents to R36.90.

MR Price (MPC) gained R2.17‚ or 1.84%‚ to R120.15 and The Foschini Group was up R1.65‚ or 1.28%‚ to R130.51. - I-Net Bridge