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JSE up on resources‚ industrials

Sep 13 2012 18:21
I-Net Bridge

Johannesburg - The JSE share market pushed to its highest closing level in 14 days on Thursday‚ benefiting mainly from the industrial and mining sectors‚ as market players looked to the US Fed policy report for further guidance.

At 5pm‚ the JSE All Share [JSE:J203] index had gained 0.42% to 35 885.23 points‚ with industrials gaining 0.80% and resources lifting 0.37%‚ while banks were the main laggards‚ losing 1.63%.

“The current expectation is for the Fed to announce QE3‚ though this is by no means a unanimous view. Even if QE3 is announced the scope and duration is uncertain‚ as the saying goes ’the devil is in the details’‚” Vunani Private Clients analyst Viv Govender said.

European shares were mixed in late trade‚ while the Dow Jones Industrial Average was up 0.12%.

Among individual shares on the JSE‚ BHP Billiton lifted 1.25% to R260.91‚ Amplats recovered 2.37% to R427.40‚ while Northam Platinum lost 4.19% to R29.99.

Harmony lifted 1.72% to R69.83 and Exxaro gained 1.01% to R165.65.

Among industrials‚ British American Tobacco gained 1.44% to R426.99‚ and telecoms group Telkom was up 1.82% to R18.51.

Among banks‚ Standard Bank gave up 1.66% to R104.39 and FirstRand lost 2.78% to R26.59.

jse  |  markets  |  stocks



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