• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

See More

Resources push JSE to record high

Feb 08 2013 19:07 I-Net Bridge

Related Articles

JSE All Share eyes 41 000 points

Banks pull JSE into red

Platinum stocks underpin JSE

JSE flat‚ retailers gain further

JSE flat amid consolidation

JSE edges up at open‚ platinums lead

Johannesburg - The JSE closed at an all-time high on Friday with all the main indices‚ with the exception of banks‚ in the black‚ amid a relatively broad-based rally.

At 17:00 the All Share [JSE:J203] index closed 0.49% higher at 40 892.65 points‚ with resources adding 1.05% and the gold index advancing 0.62%. Banks gave up 0.46%.

“It is nice to see a broad-based rally after patchy runs in the recent past. Resources are trading stronger in the absence of negative global economic news and the outlook for commodities and resources continues to improve and are attracting investors‚” said Devin Shutte‚ market analyst at stockbrokerage Newstrading.

“Chinese exports were higher and its trade balance improved and the US trade balance improved‚ pushing global markets higher‚” he said.

Meanwhile US stocks opened in positive territory on Friday‚ as investors responded to a surge in Chinese exports and a broad-based rebound in European markets‚ Dow Jones Newswires reported.

At 17:07 local time the Dow Jones Industrial Average was 0.44% stronger‚ while in Europe London’s FTSE 100 was trading 0.72% stronger at the same time.

Global markets were mostly higher after data showing China's trade surplus in January narrowed to $29.2 billion from December's $31.6 billion‚ but exports surged 25% and imports climbed 29%‚ both well ahead of the previous month's increases.

Among individual shares on the JSE‚ Anglo American (AGL) gained 2.15% to close at R279 and Sasol (SOL) added 2.08% to R397.41.

Anglo American Platinum (AMS) rallied 2.55% to R482 and Gold Fields (GFI) lifted 1.11% to R105.80. Lonmin (LON) gave up 2.67% to R51.78.

Shares in African Bank Investments Limited (ABL) dropped as much as 6% early on Friday following a statement that the National Credit Regulator (NCR) had recommended that the unsecured lender be fined R300m for alleged fraudulent activities.

The bank is contesting the fine and is expected to have a legal showdown with the regulators over the matter. The counter regained most of those losses to closed 0.33% softer at R30.50.

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
Add your comment
Comment 0 characters remaining

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

10 most expensive cars In the world

This is car porn at its best!


Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote