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Big mining firms pull JSE higher

Johannesburg - South African stocks rose on Wednesday as mining shares such as BHP Billiton were lifted by positive production updates and data showing Chinese economic growth came in a touch above forecasts.

Shares of BHP Billiton rose 1.14% to R338.58 after the world's biggest diversified mining company on Wednesday lifted full-year iron ore production guidance by 5 million tonnes to 217 million as it pushes ahead with new mine work in Australia.

"The big guns have come out firing. We had some numbers out of Billiton and the market seems to like that,” said Paul Chakuduka of Global Trader.

Kumba Iron Ore rose 1.6% to R395.76 on the data from China, which grew 7.4% in the first quarter, from a year earlier, pipping forecasts of 7.3% and dashing speculation beforehand that growth would be nearer 7% after a string of recent soft numbers [ID:nL3N0N70PN].

The Top-40 index climbed 0.78% to 43 242.25 while the broader All share index rose 0.73% to 48 139.69.

Preliminary bourse data showed advancers outpaced decliners 199 to 104, while 189 million shares exchanged hands.

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Rand - Dollar
18.99
-0.5%
Rand - Pound
23.95
-0.2%
Rand - Euro
20.50
-0.1%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.4%
Platinum
896.95
-1.0%
Palladium
1,000.11
-0.2%
Gold
2,192.73
-0.1%
Silver
24.45
-0.8%
Brent Crude
86.09
-0.2%
Top 40
67,991
+0.5%
All Share
74,199
+0.4%
Resource 10
56,296
+1.1%
Industrial 25
103,587
+0.3%
Financial 15
16,547
+0.1%
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