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JSE breaks losing streak

Feb 05 2019 18:13
Musa Makoni, GT247.com

The JSE closed firmer on Tuesday as it took a leaf from European and US equities which were buoyant on the back of good corporate earnings out of the US.

The local bourse broke consecutive losing sessions on the back of broad-based gains across all the major indices.

Index heavyweight Naspers [JSE:NPN] helped propel the JSE higher as it gained 2.72% to close at R3035.33, while EOH Holdings [JSE:EOH] recouped some of the previous sessions losses as it posted gains of 7.93% to close at R27.50.

Oil and gas producer, Sasol [JSE:SOL] firmed by 4.18% as it ended the day at R418.82, while coal miner Exxaro Resources [JSE:EXX] climbed 3.26% to R157.00. Shoprite [JSE:SHP] closed at R164.30 after the stock posted gains of 3.07%, and Truworths [JSE:TRU] closed 2.66% higher at R79.00.

Rand hedge, Richemont [JSE:CFR] also firmed despite the rand trading flat as the stock closed 2.3% firmer at R93.92.

Of the day’s biggest losers, Curro Holdings [JSE:COH] struggled significantly as the stock fell 7.47% to end the day at R26.51. Rebosis Property Fund [JSE:REB] retreated by 4.78% to close at R2.59, while Stadio Holdings [JSE:SDO] lost 3.39% to close at R3.70.

RCL Foods [JSE:RCL] lost 3.16% to R15.00, Omnia Holdings [JSE:OMN] weakened by 2.31% to R80.25, and Nampak [JSE:NPK] lost 1.96% to close at R13.99.

The JSE All-Share index closed 1.53% stronger, while the JSE Top-40 index managed to gain 1.73%. The industrials index was the biggest gainer of the day as it climbed 2.11%. The financials and resources indices gained 0.87% and 1.33% respectively.

The rand peaked at a session high of R14.33 against the greenback but it had retraced to trade at R14.40/$ at 17:00.

Brent crude traded mostly flat on the day before it slumped in the afternoon session. The commodity was trading 0.62% weaker at $62.12/barrel just after the JSE close.

At 17:00, palladium was up 0.34% to trade at $1370.63/Oz, platinum was 0.31% firmer at $823.10/Oz, and gold was up 0.15% at $1314.23/Oz.

Ethereum was 0.46% weaker at $108.12/coin and Bitcoin was 0.4% firmer at $3500.50/coin.

*Musa Makoni is a trading specialist at Purple Group.

JSE's winners and losers, February 5.

 

 

eoh  |  naspers  |  jse  |  commodities  |  markets  |  rand  |  currencies  |  stocks
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