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The JSE swung into gains towards the close led by gains in the resources indices which tracked mostly higher despite mixed commodity prices.
Gains from mining giants such as BHP Group which gained 1.56% to close at R319.69, as well as Anglo American PLC [JSE:AGL] which rose 0.87% to close at R320.11 helped to extend the gains on the resources index this week.
Other miners which advanced on the day included South32 [JSE:S32] which rallied 5.59% to close at R26.65, Sibanye Stillwater [JSE:SGL] which added 5.47% to close at R21.00, and Anglo American Platinum [JSE:AMS] which gained 5.76% to close at R894.27.
Motus Holdings closed amongst the day’s biggest gainers as it advanced 11.16% to close at R75.60 following the release of a decent set of full-year results.
Adcock Ingram [JSE:AIP] recorded double digit percentage point increases revenue and profit according to its full-year results released today.
This saw the stock rise 4.86% to close at R58.20. Bid Corporation [JSE:BID] released a positive set of full-year results which saw the stock climb 2.89% to close at R311.00.
Of the day’s losers, Grindrod [JSE:GND] had a tough session which saw the stock fall 7.14% to close at R4.68 Tsogo Sun Hotels contracted further in today’s session as it lost 5.47% to close at R3.80, while Sun International [JSE:SUI] dropped 2.42% to close at R38.35.
Hammerson PLC [JSE:HMN] which is now trading ex-dividend fell 6.33% to end the day at R40.55 while MAS Real Estate [JSE:MSP] lost 4.32% to close at R18.17.
Other significant losses on the day were recorded for Mondi PLC [JSE:MNP] which fell 2.27% to close at R290.75 as well British American Tobacco [JSE:BTI] which lost 1.71% to end the day at R531.19.The JSE All-Share index eventually closed 0.54% firmer while the blue-chip JSE Top-40 index gained 0.47%. The Industrials index closed flat as it only added 0.01%.
The Resources and Financials indices managed to add 1.5% and 0.94% respectively.
The rand retreated in today’s session to reach a session low of R15.43/$ before it rebounded marginally to be recorded trading 0.44% weaker at R15.37/$ at 17:00.
Brent crude surged mainly on the back of lower inventories recorded in US stockpiles data released on Wednesday.
The commodity was trading 1.6% firmer at $60.02/barrel just after the JSE close.
At 17:00, platinum had surged 3.97% to trade at $900.30/oz, palladium was down 0.52% to trade at $1474.40/oz, and gold was 0.34% weaker at $1537.33/oz.
