• The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

  • Losing the plot

    Parastatal leaders have lost focus of what they're supposed to do, says Nonkululeko Gobodo.

All data is delayed
See More

JSE buoyed by recovering mine stocks

Jan 18 2013 11:48
I-Net Bridge
Johannesburg – The JSE opened in the black on Friday‚ with miners leading the way after shedding value on Thursday due to labour issues in the sector. Retailers shed more value after taking a dip on Thursday‚ after Mr Price issued a worse-than-expected trading update.

At 9:56‚ the All Share [JSE:J203] index was 0.60% stronger at 40 202.93 points‚ with platinums adding 2.01% and resources 1.37% higher‚ while retailers gave back 0.23%.

Eastern markets were firm after a positive Chinese fourth quarter GDP print‚ with the Japanese Nikkei closing 2.86% stronger and the Hong Kong Hang Seng Index trading 1.08% higher at 9:41 local time.

“China’s fourth quarter GDP (growth) came in at 7.9% year-on-year‚ up from 7.4% in the third quarter‚ confirming the much discussed economic acceleration. Full year 2012 growth was 7.7%‚ the weakest since 1999. December industrial production‚ retail sales and investment all beat expectations and point to further economic acceleration‚” Rand Merchant Bank said in a morning note.

“US data was equally as good — weekly jobless claims fell to a five-year low and housing starts jumped to a four-year high. Focus is now on the University of Michigan Consumer Confidence Index to be released this afternoon‚” RMB said.

“On the local front listed retail trading updates support our view for a moderation in household consumption growth‚” it said.

“Mr Price’s sales updated for the quarter ending December 2012 were disappointing‚ with like-for-like sales growth of only 4.4% year-on-year‚” RMB said.

On the JSE‚ Anglo American (AGL) added 1.56% to R268.93 and rival BHP Billiton (BIL) garnered 1.44% to R295.00.

Impala Platinum (IMP) gained 2.13% to R172.50‚ Harmony (HAR) added 1.08% to R66.25 and Gold Fields (GFI) grew 1.30% to R106.72.

Retailer Mr Price (MPC) added 0.8% to R122.22‚ after shedding 3.3% on Thursday.

In construction Murray and Roberts (MUR) gained 2.10% to R24.81.

Spar (SPP) was off 2.13% at R119.21. 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

jse  |  markets



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote