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Miners pull JSE higher

Dec 27 2012 14:20 I-Net Bridge


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Johannesburg – Mining shares nudged the All Share [JSE:J203] index up just after noon on Thursday‚ as the SA share market looked set to wrap up the year on solid ground.

At 12:35‚ the all share index was up 0.30% to 39 306.75 points. Platinum stocks climbed 0.78% for a 12% gain this month‚ while resources have risen 0.63% on the day.

“The market looks thin although money continues to flow into the resources sector. It would seem that fund managers are generally comfortable with these price levels going into the new year‚” said Rob Towell‚ senior equities trader at Consilium Securities.

Major European markets were mildly firmer at noon‚ with London’s FTSE 100 gaining 0.19%.

On the JSE‚ Anglo American (AGL) added 1.57% to R265.10‚ Impala Platinum (IMP) gained 1.27% to R164.06 and Northam Platinum (NHM) rose 1.07% to R37.76.

Exxaro (EXX) was up 2.04% to R171.44‚ as was Kumba Iron Ore (KIO)‚ up 2.29% to R561.91.

Luxury group Richemont (CFR) was down 2.45% to R65.75‚ while short term insure Santam (SNT) rallied 5.43% to R195.67 and Pick N Pay (PIK) added 2% to R45.39.

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