Share

JSE edges higher as resources rebound

The JSE closed firmer on Thursday led by a rebound in resources which slumped in the prior session.

Asian markets closed lower as they took a leaf from the overnight weakness that was recorded in the US markets. The Japanese Nikkei dropped 0.84% while the Hang Seng and Shanghai Composite lost 0.54% and 0.37% respectively.

US markets found some momentum following the release of better than expected retail sales and weekly initial jobless claims data. The rand retreated in today’s session as it fell to a session low of R14.12/$ mainly due to the greenback rebounding against a basket of major currencies.

At 17.00 CAT, the rand was trading 0.63% weaker at R14.05/$.Retailers surged ahead despite the rand trading softer. Massmart [JSE:MSM] rose 4.31% to close at R89.50, Truworths [JSE:TRU] added 3.76% to R74.98, while Mr Price [JSE:MRP] gained 3.35% to close at R215.96.

Mediclinic [JSE:MEI] climbed 5.61% to end the day at R62.86, while Clicks [JSE:CLS] gained 5.84% to climb to R194.82. Telecoms provider Blue Label Telecoms [JSE:BLU] advanced 5.63% to close at R3.94, while its industry peer MTN Group [JSE:MTN] closed at R105.30 after gaining 2.71%. Diversified miner, Anglo American PLC [JSE:AGL] managed to add 0.83% as it closed at R396.79, while BHP Group [JSE:BHP] inched up 0.56% to close at R341.38. 

Rand hedge British American Tobacco [JSE:BTI] weakened by 1% to close at R561.02, while oil and gas producer Sasol [JSE:SOL] retreated to close at R467.81 after dropping 1.39%. EOH Holdings [JSE:EOH] had a much more stable trading session compared to the trend recorded since the release of its full-year results earlier this week.

The stock eventually closed 1.84% weaker at R22.38. Pick n Pay [JSE:PIK] bucked the trend in other retailers as it lost 1.69% to close at R72.54, while platinum miner Impala Platinum [JSE:IMP] lost 0.57% to close at R62.59.

trading

 The JSE All-Share index eventually closed 0.34% firmer while the JSE Top-40 index inched up 0.37%. All the major indices managed to record gains on the day.

Industrials added 0.31%, Resources gained 0.43%, and Financials closed 0.77% higher.At 17.00 CAT, Gold was up 0.11% at $1275.47/Oz, Platinum had gained 0.46% to trade at $893.10/Oz, and Palladium was 1.53% higher at $1416.90/Oz.Brent crude had a mixed session as it swung between gains and losses.

Brent crude peaked at a session high of $72.03/barrel before it retraced to trade 0.06% firmer at $71.66/barrel. 

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.00
-0.3%
Rand - Pound
24.09
+0.1%
Rand - Euro
20.60
-0.0%
Rand - Aus dollar
12.37
+0.5%
Rand - Yen
0.13
+0.6%
Platinum
901.60
-0.1%
Palladium
998.41
-0.8%
Gold
2,153.87
-0.3%
Silver
24.93
-0.5%
Brent-ruolie
86.89
+1.8%
Top 40
65,642
-0.9%
All Share
71,879
-0.8%
Resource 10
52,855
-0.9%
Industrial 25
99,386
-1.1%
Financial 15
16,545
-0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders