In partnership with
  • Terry Bell's Inside Labour

    The PIC, which holds nearly R2trn of workers’ pension funds, needs to come clean or face legal action.

  • Ian Mann's book review

    Both giants and SMEs need to be prepared for the 15 disruptive forces that are driving change.

  • Redeem yourself, Gerrie!

    In joining AfriForum, Gerrie Nel has moved out of the reputational frying pan into the fire, says Solly Moeng.

Loading...

JSE closes firmer as global markets react to Iran deal exit

May 09 2018 18:58
Musa Makoni, EasyEquities

(iStock)

Company Data

Lonmin plc [JSE:LON]

Last traded 7
Change 0
% Change -5
Cumulative volume 37400
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

THE FOSCHINI GROUP LIMITED [JSE:TFG]

Last traded 190
Change 10
% Change 6
Cumulative volume 3072055
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Sibanye Gold Limited [JSE:SGL]

Last traded 8
Change 0
% Change -5
Cumulative volume 19588291
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Oil-linked shares gain, lifting US stocks

SA presents 'exceptional' investment opportunity, says asset manager

Rand slips as Trump's Iran move fuels dollar

Oil prices rally after Trump tears up Iran deal

European stock markets steady at open

Tokyo stocks close lower after US exit from Iran deal

 

Johannesburg - The seesaw on the JSE continued as the local bourse managed to close firmer on Wednesday.

The big discussion in global markets today was President Donald Trump’s decision to exit the Iran nuclear deal, which resulted in commodities such as Brent crude soaring.

The deal, which was intended to limit Iran’s nuclear programme, leaves the future of the agreement with the remaining European partners in doubt.

Closer to home, the Sacci Business Confidence number for April slowed down to 96.0 from a prior recording of 97.6. The rand also slipped in today’s trading session to reach an intra-day low of R12.72/$, mainly due to US dollar strength.

The US dollar did ease in the afternoon session, which resulted in the local unit retracing to trade at R12.56/$ at 17.00 CAT.

On the local index, Dis-Chem [JSE:DCP] and Assore [JSE:ASR] recorded gains of 5.68% and 4.33% respectively, as they ended among the day’s biggest gainers.

Gold miners AngloGold Ashanti [JSE:ANG] and Gold Fields [JSE:GFI] managed to close the day up 3.65% and 1.29% respectively, despite gold trading softer earlier on.

Exxaro [JSE:EXX] and African Rainbow Minerals [JSE:ARM] added 2.31% and 2.72% respectively.

Retailers The Foschini Group [JSE:TFG] and Mr Price [JSE:MRP] gained 1.78% and 1.98% respectively, while bankers such as Nedbank [JSE:NED] and Standard Bank [JSE:SBK] climbed 1.76% and 0.95% respectively.

Naspers [JSE:NPN] traded mostly firmer but closed only 0.05% higher, supported by the announcement of the sale of its stake in Flipkart to Walmart.

Other notable moves higher were recorded in British American Tobacco [JSE:BTI], Vodacom [JSE:VOD] and Tiger Brands [JSE:TBS], which gained 1.3%, 1.5% and 1.04% respectively.

Lonmin [JSE:LON] slid by 9.69% to close at R8.67 per share as the bearish tone around platinum miners persisted. Impala Platinum [JSE:IMP] lost 1.87% to close at R19.43 per share.

Sibanye-Stillwater [JSE:SGL] came under significant pressure as it slid to a session low of R9.06 per share, before rebounding to close at R9.31 per share, down 3.52% for the day.

Ascendis Health [JSE:ASC] and Datatec [JSE:DTC] lost 7.23% and 5.43% respectively, while on the blue-chip index, Aspen [JSE:APN] was one of the index’s biggest losers after shedding 1.18% to close at R263.06 per share.

MTN [JSE:MTN] came under significant pressure in the morning session after the company announced that they might face challenges repatriating funds from Iran in the wake of fresh US sanctions on that country.

The stock closed at R124.22 per share, down 0.58% for the day after having reached a session low of R120.00 per share earlier on.

The JSE Top-40 Index closed 0.54% firmer, while the broader JSE All-Share Index managed to add 0.43%. Modest gains were recorded across most of the major indices, with the exception of the Resources Index which gained 1.39%.

The Industrials and Financials Indices recorded gains of 0.19% and 0.31% respectively.

At 17.00 CAT gold was trading flat at $1316.01 per ounce, after having reached a session low of $1304.34/oz earlier on. Platinum was trading 0.32% firmer at $916.05/oz, while palladium was 0.5% firmer at $978.55/oz.

Brent crude was trading firmer on the back of increased geopolitical tensions and lower crude oil stockpiles numbers. The commodity was trading at $76.87 per barrel just after the JSE close.

On the cryptocurrency market, bitcoin is still holding above $9000 per coin, and at 17.00 CAT it was trading at $9 300 per coin. At that same time Ethereum was trading at $746.76 per coin.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

equities  |  jse  |  markets
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Have you considered your options for retirement?

Previous results · Suggest a vote

Loading...