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Johannesburg - The JSE continued its recovery on Friday morning following Thursday’s gains as local and global equities benefited from revived risk appetite.
At 9:19‚ the All Share [JSE:J203] index was trading 1% higher at 39 474.66 points‚ with retailers gold miners and resources taking the lead.
Retailers added 1.79% after losses in the sector on Thursday after a disappointing trading update from Ellies (ELI) led to selling in this sector.
The gold index lifted 1.76% and resources were 1.28% firmer after recent losses.
European markets were also firmer‚ with London’s FTSE 100 trading 0.32% firmer in early-morning trade.
Rand Merchant Bank said in a morning note that event risk on Friday came mostly from local May trade data.
“The extreme sensitivity of the market to these figures that was seen at the end of last year and in early this year has probably subsided somewhat but we should still worry about some response. We expect a deficit of R9bn‚ down from April’s R15bn and smaller than the consensus forecast of R12bn‚” the bank said.
Among individual stocks on the JSE‚ Sasol (SOL) picked up 2.36% to R429.23 and Exxaro (EXX) added 2.97% to R145.78.
Industrials Imperial (IPL) gained 2.65% to R203.50 and Barloworld (BAW) gained 2.53% to R81.
Gold counters Harmony (HAR) surged 3.94% to R34.79‚ Gold Fields (GFI) added 2.37% to R48.74‚ while Sibanye (SGL) bucked the trend‚ giving back 0.58% to R6.81.
Retailers Massmart (MSM) lifted 2.61% to R180.60 and the Foschini Group (TFS) advanced 2.47% to R97.40.
