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Johannesburg - The JSE was in positive territory on Thursday morning with all the main indices were in the black. Gold miners continued their rebound as commodity prices improved further.
At 9:54‚ the JSE All Share [JSE:J203] index was up 0.43% at 38 951.59 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.42%.
The gold mining‚ resources and platinum indices were up 3.48%‚ 0.52% and 0.48% respectively.
The gold price continued on its path of recovery adding 0.95% to $1 444.03/oz by 9:54. At the same time the platinum spot price was 0.94% higher at $1 439.50.
Eastern markets were firm with Japan’s Nikkei 225 ending 0.60% higher and Hong Kong’s Hang Seng index up 0.96% shortly before its close.
Leading European markets were mostly firmer‚ with London’s FTSE 100 0.37% higher at 9:39 local time.
“The global focus today will be on the first quarter UK GDP figures. Having contracted in the fourth quarter of last year‚ another GDP contraction would formally put the UK in a triple dip recession‚” Rand Merchant Bank said in a morning note.
While locally‚ in what is turning out to be a quieter week on the news front‚ today’s attention will fall on the March PPI report. “We expect a modest acceleration in PPI inflation‚ from 5.4% year on year to 5.7% versus the consensus expectation of a slight uptick to 5.5%‚” RMB said.
Gold Fields (GFI) jumped 4.96% to R67.70‚ Harmony (HAR) gained 3.38% to R46.49‚ Anglogold Ashanti (ANG) added 2.82% to R177 and Gold One International (GDO) leapt 15.82% to R2.05.
Sasol (SOL) gained 1.48% to R387.75 and Kumba Iron Ore (KIO) was up 2.31% to R463.46.
Platinum miner Aquarius (LON) improved 2.54% to R5.65 and Lonmin (LON) was 1.17% firmer at R38.95.
In the construction sector Basil Read Holdings (BSR) dropped 3.57% to R10.80.
IT group Altron (ATN) surged 5% to R21 after its subsidiary Altech (ALT) said on Wednesday in its results report that with the disposal of its East and West African operations‚ it was well positioned to return to its normal pattern of growth. Altech reported a 26% decline in its diluted adjusted headline earnings per share in the year to February to R2.78.
