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JSE rallies on ECB statement

Johannesburg - A broad-based rally in SA equities sent the All-share index to a seven-day closing high on Thursday after the eurozone central bank confirmed a bond buying plan aimed at tackling the economic problems in a single-currency region.

At 17:00‚ the JSE all-share index was up 1.80% to 35 674.73 points‚ with platinum miners jumping 3.97%‚ resources rallying 3.23% and the gold index gaining 2.44%.

“The news was as expected. Commodity prices and commodity-based stocks reacted favourably in anticipation of the freeing up of liquidity within the euro region which is SA’s key export market‚” said Ian Cruickshanks‚ market watcher at Nedbank Capital.

European shares exhibited the similar pattern in late trade‚ with London FTSE gaining 2.03%‚ while the Dow Jones Industrial Average rose 1.66%.

Among individual shares‚ Anglo American [JSE:AGL] climbed 3.76% to R243.28‚ BHP Billiton [BIL] added 2.97% to R244.48 and Sasol [JSE:SOL] gained 3.39% to R365.50.

Anglo American Platinum [JSE:AMS] surged 5.24% to R420 and Lonmin [JSE:LON] recovered 5.09% to R75.35.

Gold Fields added 2.93% to R106.99 and Harmony Gold Mining [JSE:HAR] rose 3.50% to R70.77.

Among diversified miners‚ Exxaro [JSE:EXX] gained 2.61% to R150.06 and African Rainbow Minerals [JSE:ARM] was up 3.23% to R151.75.

Among industrial shares‚ Bivest [JSE:BVT] improved 2.34% to R208.20 and Barloworld [JSE:BAW] rose 3.34% to R75.85.

Telecoms group MTN [JSE:MTN] rallied 3.06% to 158.97.

Among banks and financials‚ Standard Bank [JSE:SBK] garnered 2.05% to R112‚ and Investec [JSE:INP] picked up 2.58% to R52.01.
 
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Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.34
+0.0%
Rand - Yen
0.13
-0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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