Johannesburg - The JSE stock market ended in positive territory on Thursday‚ boosted by the relief bounce in the resources sector‚ and financial shares. Better-than-expected US labour data added to the upbeat market mood.
At 5pm‚ the JSE All Share [JSE:J203]
index ended 0.41% higher at 36 268.96 points‚ with financials lifting 0.57%‚ resources recovering 0.40% but the platinum index easing 0.86%.
“The rand weakness was the main feature behind the slight recovery of the resource stocks. The dual-listed stocks such Old Mutual‚ British American Tobacco (BTI) benefit from rand weakness‚” said Rob Towell‚ senior equities trader at Consilium Securities.
The local currency weakened to as much as 8.5458 to the US dollar amid worries about the spread of the current strikes in the mining indusry.
Leading European equities were higher in late trade‚ as was the Dow Jones Industrial Average. US initial claims for jobless benefits rose slightly to 367 000 during the latest week‚ slightly better news than expected. Economists surveyed by Dow Jones Newswires expected claims to increase to 370 000 from 359 000 in the previous week.
Among individual shares‚ Anglo American added 1.16% to R249.70‚ but Impala Platinum lost 1.69% to R135.28‚ Gold Fields was off 1.01% at R104.56 and Exxaro picked up 1.16% to R160.23.
Among industrials‚ British American Tobacco rallied 2.25% to R454.87.
Financial services group Old Mutual rallied 1.55% to R24.22 and MMI Holdings gained 3.10% to R20.93.