Loading...
See More

Rand-hedge stocks boost JSE

Jan 23 2013 13:54 I-Net Bridge


Related Articles

Miners lead JSE firmer

JSE softer on consolidation

Banks weigh on JSE

Industrial stocks weigh on JSE

JSE flat as mines face pressure

JSE pares losses late‚ platinums up

 
Johannesburg – The rand-hedge stocks boosted the JSE at noon after the currency fell to its weakest point to the US dollar in about eight weeks.

At 12:38‚ the All Share [JSE:J203] index was up 0.49% at 40 106.53 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.52% to 35 673.11 while gold and resource indices lifted 1.36% and 1% a piece.

“Rand weakness is the broader theme in the absence fresh drivers‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.

The rand‚ which also weakened sharply against the British pound and the euro - was at R8.9591 to the green back from R8.8436 previously - the weakest level since November 23.

Among some of the rand-hedge shares‚ BHP Billiton (BIL) rallied 2.01% to R298.28‚ AngloGold Ashanti (ANG) was up 1.46% to R263.31 and Gold Fields (GFI) gained 1.23% to R109.02.

British American Tobacco (BTI) was up 1.26% to R455.92 and Richemont (CFR) lifted 2.46% to R72.75.

Elsewhere‚ leading European shares were marginally higher‚ with London’s FTSE 100 up 0.21% while US futures pointed to a flat open on Wall Street later during the day. 

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

markets; jse
NEXT ON FIN24X

 
 
 

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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Goalkeeper saves five penalties with his FACE!

Nothing, and we mean nothing, will keep goalkeeper Scott Stirling from stopping the ball!

 
 

Men24.com

Hottie of the day: Jesselyn
This invention makes farts smell like chocolate!
11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!

Money Clinic

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