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Johannesburg - Industrial and gold shares on the JSE were in demand on Thursday‚ helping the broader market to a positive start to the new month after the all share index lost in excess of 2% in April.
At 12:39‚ the JSE All Share [JSE:J203] index was up 0.72% to 39 014.51 points‚ with the Top 40 - (Tradeable) [JSE:J200] blue-chip index gaining 0.71%. Industrial and gold stocks rallied 1.36% and 1.80% respectively. Platinum stocks‚ however‚ fell 1.08%.
The key global risk event on Thursday is the outcome of the European Central Bank (ECB) meeting this afternoon. Markets have factored in a potential easing in interest rates.
“The ECB rate cut‚ if it does indeed happen‚ will have limited impact on the wider economy in other regions because interest rates are already at record lows‚ while business and consumer confidence also remain low‚” said independent analyst Ian Cruickshanks.
Top European equity markets were slightly lower at noon‚ with UK’s FTSE 100 giving up 0.14%.
Among individual shares on the JSE‚ Anglo American Platinum (AMS) was down 1% to R337‚ while volatile Aquarius Platinum (AQP) shed 4.17% to R5.75.
AngloGold Ashanti (ANG) was‚ however‚ up 1.86% to R170.52 with Gold Fields (GFI) gaining 2.88% to R65.71.
Among industrial stocks British American Tobacco (BTI) was up 2.10% to R507.53 and Bidvest (BVT) lifted 1.80% to R237.55.
Telecommunications firm MTN Group (MTN) gained 2.92% to R166.51.
