After rocketing 200% last year, South African platinum shares extend surge in 2020 | Fin24
 
  • Flag Carrier

    South African Airways is in death throes as a weekend funding deadline for its survival looms.

  • Michael Jordaan

    Forget Matric results - here's how to prepare your kids for jobs that don't yet exist.

  • SA Reserve Bank

    The prime lending rate falls to 9.75% after the central bank cuts the repo rate.

Loading...

After rocketing 200% last year, South African platinum shares extend surge in 2020

Jan 09 2020 06:19
Adelaide Changole

After soaring 200% in 2019, an index of Johannesburg-traded platinum stocks has maintained its blistering pace at the start of the new year, buoyed by record prices for the palladium the miners dig up alongside their main product.

The FTSE/JSE Africa Platinum Mining Index jumped 4.9% Wednesday, taking its advance this year to 6.5%, as palladium touched an all-time high above $2,100 an ounce, driven by strong consumption from carmakers, tight supplies and haven demand for precious metals.

Northam Platinum has led its South African peers so far in 2020, rising 8.7%. Impala Platinum Holdings, the market’s best performing stock in 2019 with a 291% gain, is up 6.5%. Anglo American Platinum, the world’s largest supplier of platinum and palladium, has gained 5.8%. The country’s overall benchmark index is 0.4% higher.

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...