Daily News Blog. THE JSE closed at another record high on Tuesday‚ with a rally in the general resource and platinum sectors extending into a third consecutive day. The all share index ended up 0.44% at 42‚685.35 points‚ with the top 40 index climbing 0.43%. The platinum and resource indices lifted 1.40% and 0.58% respectively. The rand lost further ground in late trade‚ boosting rand-hedge stocks such as SABMiller. "In the absence of local economic news‚ our market took direction from its European counterparts for most of the day. We saw a positive German ZEW economic sentiment reading which showed institutional investors and analysts were significantly more positive on the economy than they were than last month‚" South Africa market analyst Shaun Murison said. European markets were mostly higher in late trade, with London’s FTSE 100 gaining 0.28%, but the Dow Jones industrial average was 0.31% softer. Among individual shares on the JSE, Sasol was up 1.35% to R471.74, with Anglo American Platinum adding 1.55% to R392 and Northam Platinum climbing 2.81% to R39.87. "Apart from the good news on China, the eurozone is expected to emerge from recession when it announces its second-quarter GDP (gross domestic product) on Wednesday, with its first positive GDP print in two years. The motor industry has been extremely depressed there, with car sales back at levels of 20 years ago, so lets hope it revives because they are the biggest buyers of our platinum for diesel vehicles," Stanlib portfolio manager Paul Hansen said. Sibanye Gold was up 6.75% to R8.70 after reporting a 63% rise in operating profit in the six months to June to R3.3bn despite a sharp fall in the gold price since mid-April. African Rainbow Minerals gained 3.16% to R175.89, with Assore adding 4.53% to R364.90. Abil was up 3.9% to R16. Murray & Roberts dropped 5.41% to R24.50 but PPC rallied 5.54% to R32.19. Dealers could not give definitive reasons for the movements in these two counters. Massmart was off 2.65% to R159.60 while JD Group recovered 3.07% to R28.87. SABMiller added 1.21% to R482.18.
Posted on: Wed, 14 Aug 2013 07:27:32 +0000