Share

JSE rallies as Italy crisis fears subside

Johannesburg - The JSE rebounded to close firmer on Thursday as it followed the trend in other global markets.

Investors globally found relief in the possibility of a solution to the current Italian crisis, and this resulted in the Euro trading firmer against the US dollar.

Asian counters closed firmer earlier on as the Hang Seng and Nikkei climbed 1.37% and 0.83% respectively.

Despite opening firmer, European counters pulled back towards the close; however, this did not impact the momentum on the JSE.

The local bourse sustained its gains, which saw rand-sensitive stocks gain due to the stronger local unit earlier on. The majority of the blue-chip stocks were also trading in the green, which helped lift the broader index higher.

Retailers The Foschini Group [JSE:TFG], Truworths [JSE:TRU] and Shoprite [JSE:SHP] climbed by 3.39%, 1.92% and 0.78% respectively.

Platinum miners Impala Platinum [JSE:IMP] and Anglo American Platinum [JSE:AMS] added 5.3% and 2.44% respectively as they were buoyed by relatively higher platinum metal prices.

Listed property stocks Greenbay Properties [JSE:GRP] and Delta Property Fund [JSE:DLT] recorded gains of 8.73% and 6.42% respectively.

Rand hedges British American Tobacco [JSE:BTI] and Mondi PLC [JSE:MNP] managed to add 2.69% and 1.93% respectively, while bankers Standard Bank [JSE:SBK] and Capitec Holdings [JSE:CPI] gained 2.41% and 0.7% respectively.

Losses on the JSE Top-40 index were relatively limited to a handful of stocks such as Mediclinic [JSE:MEI], Remgro [JSE:REM] and Investec Limited [JSE:INL] which lost 1.46%, 0.34% and 0.45% respectively.

Ascendis Health [JSE:ASC] and Tongaat Hulett [JSE:TON] dropped 5.75% and 5.01% respectively, while Brait [JSE:BAT] lost 5.07% to close at R36.51 per share.

The blue-chip JSE Top-40 index gained 1.01%, while the broader JSE All-Share Index firmed by 1%.

All the major indices closed in the green, with the biggest gainer the Resources  index which gained 1.88%. The Financials and Industrials indices added 1.01% and 0.63% respectively.

Trading in the rand was volatile as the local currency strengthened to a session high of R12.45/$. However, the currency erased all of its gains to eventually trade at R12.66/$ at 17:00, down 1.31% for the day.

Gold inched higher on the day to trade at $1 304.76 per ounce at 17:00, up 0.21% for the day.

At that same time platinum and palladium were trading at $912.00/oz and $990.21/oz respectively, both marginally firmer on the day.

Brent crude tracked higher on the day to reach a session high of $78.40 per barrel. The commodity retraced briefly to trade at $78.05/barrel just after the JSE close.

Ethereum recorded gains of 4.12% to trade at $576.10 per coin at 17.00 CAT, while Bitcoin was trading 3.04% firmer at $7 563.22 per coin.

The JSE market update is from GT247.coman online broker and authorised financial services provider.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

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
18.89
+0.2%
Rand - Pound
23.83
+0.3%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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