JSE tracks global stocks firmer

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JSE1 Independent Newspapers The JSE. Photo: Simphiwe Mbokazi.

The JSE edged up at the start of trade on Friday‚ in line with leading global markets‚ amid renewed hopes of coordinated monetary easing by central banks to shore up the global economy.

At 09:39 local time‚ the JSE all-share index was up 0.29% to 33‚922.66 points‚ with resources gaining 0.82%‚ gold counters lifting 1% and platinums firming 0.39%.

Financials were relatively flat (0.11%)‚ as were banking stocks(-0.04%) and industrials (0.11%).

The rand was trading at 8.36 to the US dollar‚ from 8.42 at the JSE's close on Thursday‚ while gold was quoted at US$1‚627 a troy ounce from US$1‚617.41/oz at the JSE's previous close and platinum was at $1‚496/oz‚ from $1‚468.50/oz previously.

“We expect a fairly cautious stance on the side of investors to creep in ahead of the Geek election and the potential fallout on the markets‚” said Devin Shutte‚ a trader at stockbrokerage‚ Newstrading.

Asian and European markets were mostly firmer on signs that major central banks are planning to try to rescue the global economy‚ though there was caution ahead of the Greek elections.

Japan's Nikkei ended flat at the close‚ while the Hang Seng index was up 1.88% at 09:24 local time. At the same time‚ in Europe‚ London’s FTSE was up 0.72%.

On the JSE‚ Anglo American (AGL) gained R1.38 to R275.60‚ BHP Billiton (BIL) lifted R2.69‚ or 1.16%‚ to R234.34 and Sasol (SOL) was up R1.50 to R364.50.

AngloGold Ashanti (ANG) added R3.22‚ or 1.06%‚ to R306.69‚ Gold Fields (GFI) rose R1.51‚ or 1.35%‚ to R113.51 and Harmony Gold Mining (HAR) inched up 11 cents to R86.56.

In platinum stocks‚ Lonmin (LON) recovered R2.19‚ or 2.35%‚ to R95.45 but Aquarius Platinum (AQP) shed 11 cents‚ or 1.38%‚ to R7.89.

Among other miners‚ African Rainbow Minerals (ARI) lifted R1.89‚ or 1.11%‚ to R172.15.

In industrials‚ British American Tobacco (BTI) shed R6.41‚ or 1.56%‚ to R405 and SAB (SA) slipped R3.50‚ or 1.09%‚ to R316.75.

Among telecoms shares‚ MTN (MTN) added R1.65‚ or 1.22%‚ to R136.65 and Telkom (TKG) gained 32 cents‚ or 1.62%‚ to R20.04.

In banks‚ Absa (ASA) was up R1.06 to R153.06. - I-Net Bridge

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