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JSE closes firmer after erasing earlier losses

Johannesburg - The JSE closed firmer on Tuesday, despite briefly trading in the red after the index opened weaker.

The majority of the index’s blue-chip constituents managed to gain momentum as today’s trading session progressed, which saw bankers and retailers in particular benefiting from the firmer rand.

The rand strengthened against the greenback to reach a session high of R12.49/$ as the US dollar eased from its overnight highs. At 17:00 the local currency had retraced to trade at R12.59/$.

Long4Life [JSE:L4L] jumped 6.67% to close at R5.92 per share as it ended as the day’s biggest gainer. Telecommunications providers Vodacom [JSE:VOD] and Bluetel Communications [JSE:BLU] ended the day up 4.41% and 5.65% respectively.

Pharmaceutical giant Aspen [JSE:APN] added 4.62% to close at R260.34 per share, while PSG Group [JSE:PSG] gained 3.52%.

Retailers Pick n Pay [JSE:PIK], Mr Price [JSE:MRP] and The Foschini Group [JSE:TFG] gained 3.73%, 2.72% and 2.22% respectively.

Bankers Standard Bank [JSE:SBK] and FirstRand [JSE:FSR] managed to add 2.27% and 2.14% respectively. Discovery [JSE:DSY] and Mediclinic [JSE:MEI] managed to firm by 2.16% and 2.45% respectively.

Clientele [JSE:CLI] came under pressure as it lost 12.05% to close at R19.35 per share. Listed property stocks Balwin Properties [JSE:BWN] and Delta Properties [JSE:DLT] lost 3.89% and 2.34% respectively.

Dis-Chem [JSE:DCP] shed 3.26% to close at R28.45 per share, while Clicks [JSE:CLS] lost 1.19%.

Reinet [JSE:RNI] and Richemont [JSE:CFR] lost 1.85% and 1.52% respectively, while gold miners Gold Fields [JSE:GFI] and AngloGold Ashanti [JSE:ANG] closed the day 1.18% and 1.28% softer.

Anglo American Plc [JSE:AGL] and BHP Billiton [JSE:BIL] pulled back by 0.43% and 1.18% respectively.

The JSE All-Share Index rebounded from its sluggish start to end the day up 0.52%, while the JSE Top-40 Index firmed by 0.56%.

The Resources Index came traded softer to end the day 0.43% weaker, but the Industrials and Financials Indices added 0.60% and 1.49% respectively.

Gold pared its losses after an earlier slump, and at 17:00 it was trading flat at $1 292.56 per ounce.

Palladium briefly broke out above $1 000/oz to reach a session high of $1 006.79/oz. However, at 17:00 it had retraced to trade at $996.52/oz.

Platinum was trading firmer on the day and when the JSE closed it was up 0.95% at $908.56/oz.

Brent crude rose on the back of supply concerns as a result of the imposition of sanctions on that country by the USA.

The USA passed a decision to ban the purchase of Venezuelan government debt, which resulted in Brent crude jumping by more than 1.4% to peak at $80.40 per barrel.

It was trading at $80.31/barrel just after the JSE close.

Bitcoin and Ethereum were marginally softer today in comparison to their overnight close. At 17:00 bitcoin was trading at $8231.90 per coin, while Ethereum was trading at $680.00 per coin.

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Rand - Dollar
18.96
-0.1%
Rand - Pound
24.12
-0.0%
Rand - Euro
20.62
-0.2%
Rand - Aus dollar
12.40
+0.2%
Rand - Yen
0.13
+0.3%
Platinum
911.84
-1.3%
Palladium
1,018.92
-4.4%
Gold
2,161.91
+0.1%
Silver
25.15
+0.5%
Brent Crude
86.89
+1.8%
Top 40
66,252
0.0%
All Share
72,430
0.0%
Resource 10
53,317
0.0%
Industrial 25
100,473
0.0%
Financial 15
16,622
0.0%
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