Resources underpin JSE strength

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JSEPic INDEPENDENT MEDIA Naspers is the only listed company in SA with such a direct exposure to China. Photo: Leon Nicholas.

The JSE remained on the front foot at noon‚ supported by resources.

At 12.31pm‚ the all share index was up 0.41% to 38‚834.04 points‚ again in record territory‚ with the top 40 index gaining 0.48% to 34‚440.69 points - resources lifted 1.61%.

“The US fiscal cliff talks remain a dominant backdrop to investor sentiment. Hopes of US Congress reaching a settlement lifted US stocks‚ which in turn‚ boosted world markets‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.

Leading European shares were mostly higher at noon‚ with UK’s FTSE 100 up 0.41%.

Among individual shares on the JSE‚ Anglo American (AGL) was 1.82% stronger at R259.72 and BHP Billiton (BIL) rallied 2.79% to R299.29. But Aquarius Platinum (AQP) gave up 3.51% to R6.60‚ while ArcelorMittal SA (ACL) rose 5.22% to R34.29 and Exxaro (EXX) gained 2.38% to R161.42.

Rand hedge British American Tobacco (BTI) lost 2.10% to R446.21.

In banks‚ Absa (ASA) climbed 1.68% to R160.92. - I-Net Bridge


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