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Johannesburg - The JSE all share index rose on Monday‚ led by resources and gold counters.
The gains continued from Friday on the momentum of US employers adding more jobs in April than expected‚ boosting global market sentiment and underpinning commodity counters.
Interest in local resources and gold miners offset losses in the banking sector‚ which was predominantly dragged down by short term lender African Bank (Abil‚ ABL)‚ following last week’s disappointing trading update.
At 17:00‚ the JSE All Share [JSE:J203] index closed 0.60% firmer at 39 828.96 points‚ with the Top 40 - (Tradeable) [JSE:J200] blue-chip index gaining 0.67%.
The resources and gold mining sectors added 1.09% and 1.05% respectively‚ while banks gave back 0.34%.
“We had a bit of a quiet day as the UK market is closed for a holiday. When they are closed we are less active as many of our big companies such as Anglo American and BHP Billiton are also listed on the London Stock Exchange‚” said Viv Govender‚ trader at Vunani Private Clients.
“The US had a strong jobs number on Friday and this spurred demand for resources and buoyed commodity stocks across the board today as well‚” he said.
In Europe‚ London’s financial markets were closed on Monday for a bank holiday. Other European markets were trading lower‚ with the Paris CAC 40 index 0.30% lower at 4.53pm local time‚ as slightly weaker than expected retail sales data in the eurozone weighed on European markets.
March retail sales in the eurozone fell 0.1% on the month‚ below expectations of an unchanged reading‚ Dow Jones Newswires reported. The year-on-year drop of 2.4% was the weakest since the end of last year.
Across the Atlantic‚ US stocks hovered around Friday's record highs on Monday‚ as the pace of corporate earnings reports started to slow and further signs surfaced that Europe’s economy was slowing‚ Dow Jones Newswires reported.
At 16:53 local time the Dow Jones Industrial Average was 0.12% softer.
On Friday‚ the Dow topped 15 000 points intraday for the first time before closing up 1% at a record high of 14‚973.96 points on the strong US jobs data.
Among individual shares on the JSE‚ Anglo American (AGL) closed 1.23% higher at R230.20‚ BHP Billiton (BIL) gained 1.20% to R259.81 and Sasol (SOL) was up 1.48% at R400.50.
Bullion counter Harmony (HAR) surged 4.97% to R40.94 after suffering some heavy losses last week after it issued a disappointing production report. AngloGold Ashanti (ANG) added 1.16% to R171.56.
ArcelorMittal (ACL) gained 2.41% to R24.20.
Industrial counter Barloworld (BAW) increased 2.69% to R98.07 and SABMiller (SAB) added 1.27% to R500.99. AVI (AVI) added 2.02% to R55.60.
Among platinums Northam (NHM) dropped 2.65% to R32.
African Bank Investments (ABL)‚ SA’s biggest unsecured lender‚ dropped a further 4.81% to close at R22.75. Its shares fell more than 17% on Friday.
Rival lender Capitec (CPI) dipped 1.23% to close at R201.50.
Retailer The Foschini Group (TFG) closed 1.37% lower at R109.24 and the JD Group (JDG) retreated 1.20% to R31.25. Steinhoff (SHF)‚ however‚ added 2.12% to R23.64.
Beleaguered telecommunications group Telkom (TKG) lost another 4.80% to R11.90.
Altech (ALT) surged 10.58% to R35 after it suffered some recent losses after issuing disappointing results the week before last.
The gains continued from Friday on the momentum of US employers adding more jobs in April than expected‚ boosting global market sentiment and underpinning commodity counters.
Interest in local resources and gold miners offset losses in the banking sector‚ which was predominantly dragged down by short term lender African Bank (Abil‚ ABL)‚ following last week’s disappointing trading update.
At 17:00‚ the JSE All Share [JSE:J203] index closed 0.60% firmer at 39 828.96 points‚ with the Top 40 - (Tradeable) [JSE:J200] blue-chip index gaining 0.67%.
The resources and gold mining sectors added 1.09% and 1.05% respectively‚ while banks gave back 0.34%.
“We had a bit of a quiet day as the UK market is closed for a holiday. When they are closed we are less active as many of our big companies such as Anglo American and BHP Billiton are also listed on the London Stock Exchange‚” said Viv Govender‚ trader at Vunani Private Clients.
“The US had a strong jobs number on Friday and this spurred demand for resources and buoyed commodity stocks across the board today as well‚” he said.
In Europe‚ London’s financial markets were closed on Monday for a bank holiday. Other European markets were trading lower‚ with the Paris CAC 40 index 0.30% lower at 4.53pm local time‚ as slightly weaker than expected retail sales data in the eurozone weighed on European markets.
March retail sales in the eurozone fell 0.1% on the month‚ below expectations of an unchanged reading‚ Dow Jones Newswires reported. The year-on-year drop of 2.4% was the weakest since the end of last year.
Across the Atlantic‚ US stocks hovered around Friday's record highs on Monday‚ as the pace of corporate earnings reports started to slow and further signs surfaced that Europe’s economy was slowing‚ Dow Jones Newswires reported.
At 16:53 local time the Dow Jones Industrial Average was 0.12% softer.
On Friday‚ the Dow topped 15 000 points intraday for the first time before closing up 1% at a record high of 14‚973.96 points on the strong US jobs data.
Among individual shares on the JSE‚ Anglo American (AGL) closed 1.23% higher at R230.20‚ BHP Billiton (BIL) gained 1.20% to R259.81 and Sasol (SOL) was up 1.48% at R400.50.
Bullion counter Harmony (HAR) surged 4.97% to R40.94 after suffering some heavy losses last week after it issued a disappointing production report. AngloGold Ashanti (ANG) added 1.16% to R171.56.
ArcelorMittal (ACL) gained 2.41% to R24.20.
Industrial counter Barloworld (BAW) increased 2.69% to R98.07 and SABMiller (SAB) added 1.27% to R500.99. AVI (AVI) added 2.02% to R55.60.
Among platinums Northam (NHM) dropped 2.65% to R32.
African Bank Investments (ABL)‚ SA’s biggest unsecured lender‚ dropped a further 4.81% to close at R22.75. Its shares fell more than 17% on Friday.
Rival lender Capitec (CPI) dipped 1.23% to close at R201.50.
Retailer The Foschini Group (TFG) closed 1.37% lower at R109.24 and the JD Group (JDG) retreated 1.20% to R31.25. Steinhoff (SHF)‚ however‚ added 2.12% to R23.64.
Beleaguered telecommunications group Telkom (TKG) lost another 4.80% to R11.90.
Altech (ALT) surged 10.58% to R35 after it suffered some recent losses after issuing disappointing results the week before last.
