• Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.


JSE spotlight on iron ore as most indices tread water

Apr 21 2017 12:57
David van Rooyen

The new JSE logo. (Supplied)

Company Data


Last traded 112
Change 4
% Change 4
Cumulative volume 1645186
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 217
Change 0
% Change 0
Cumulative volume 1929190
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 113
Change 0
% Change 0
Cumulative volume 1516409
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Oil set for biggest weekly loss since early March

Pound falls after retail sales drop

Yuan calm at risk of ending as China share drop darkens mood

Stocks gain in Asia, Europe on US tax optimism

China stocks head for 2017's worst week

Yen pre-Trump high looms on geopolitics, reflation unwind


Johannesburg - Iron ore was the focus of attention on the JSE on Friday, after iron prices jump sharply on indications of a brewing trade dispute between the United States and China.

Prices of commodities linked to the steel industry rose sharply on expectations of increased demand from the US, after US President Donald Trump said on Thursday that he would launch an investigation into anti-competitive practices from China's steelmakers.

As a result the JSE's Resources index was almost 1% up at mid-morning, pulled higher by companies such as Kumba [JSE:KIO], Exxaro [JSE:EXX] and Anglo American [JSE:AGL], which have interests in iron ore and coking coal. This was despite the further firming of the rand, which normally has a negative effect on resources shares.

The local resources sector took its lead from European steelmakers which traded firmly higher on Friday, with mining stocks following suit. By mid-morning the Resources index on the JSE was 0.74% higher after gaining more than 1.3% in earlier trade.

The rest of the market was however listless, with indices showing marginal losses and low volumes as the rand strengthened to R13.14 to the dollar at mid-morning.

At that stage the All-share index was 0.13% softer at 52 428 points and the Top 40 index 0.11% lower at 45 685 points. The big loser was the Industrial index, which shed 0.46% as the major dual-listed shares were dented by the strong rand. The Financial index was also treading water, losing only 0.13%.

Gold lost further ground but losses were modest and the index shed 0.45%.

Trump's comments on Thursday lifted iron ore prices by more than 6% to about $73.45 a tonne and coking coal prices, a key ingredient in the steelmaking process, gained 5.5%. Prices of other basic materials were also rising.

Iron ore producer Kumba [JSE:KIO] was the centre of attention on the JSE with the share price at mid-morning rising 2.81% to R183.51, after earlier reaching as high as R186.78. Assore [JSE:ASR], the other iron ore producer, was 1.84% stronger at R222.96.

Anglo American, Kumba’s holding company, gained 1.20% to R194.12 but the share in earlier trade was as high as R196.07. Exxaro, which holds a stake in Kumba and also owns coal interests, was 1.86% stronger at R112.55.

BHP Billiton [JSE:BIL], which has huge iron interests in Australia, gained 1.24% to R203.30 after surging strongly on the London market.

Among the big dial-listed shares Naspers [JSE:NPN] traded 0.68% lower at R2 462.00 and Richemont [JSE:CFR] lost 1% to R103.40. Steinhoff [JSE:SHF] was 0.43% softer at R64.22.

FirstRand [JSE:FSR] and Nedbank [JSE:NED] were again the busiest banking shares, with FirstRand gaining 0.43% to R64.22. Nedbank continued its recent decline and lost 0.69% to trade at R223.50.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

equities  |  jse  |  markets



Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.

Money Clinic

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

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote