Share

Banks‚ Platinums lead JSE rally

Johannesburg - A relatively strong demand for banking and platinum stocks kept the JSE in positive territory at noon‚ as market players looked to the US data releases this afternoon for further direction.

At 12:46‚ the JSE All Share [JSE:J203] index was 0.66% firmer at 40 271.41 points‚ with the blue-chip Top 40 - (Tradeable) [JSE:J200] index gaining 0.69%. Banking and platinum indices gained 1.59% and 1.29% respectively.

“Market tensions around Cyprus bailout package seems to have subsided in the short term‚” said Nicholas Sorour‚ portfolio manager at Sasfin Securities. “The US data‚ including consumer confidence numbers‚ should provide some further impetus.”

Leading European shares were marginally firmer‚ with UK’s FTSE 100 up 0.12%.

Paul Hansen‚ portfolio manager at Stanlib‚ said the US‚ Chinese and Japanese economies were looking better‚ while stock markets were still in reasonably buoyant mood in the final week of the first quarter.

Among the notable movers on the JSE on Tuesday‚ American Platinum (AMS) moved 1.85% firmer at R402.30 and Lonmin (LON) gained 3.10% to R42.90.

Kumba Iron Ore (KIO) gained 3.14% to R482.25 and African Rainbow Minerals (ARI) was up 2.72% to R189.

Barloworld (BAW) was up 3.59% to R95.30 while Standard Bank (SBK) rallied 1.18% to R119.45 and Absa (ASA) gained 2.67% to R160.70.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders