Resources and miners nudge JSE up a bit‚ but banks lose steam
The JSE was firmer before midday on Tuesday‚ supported by resources and mining stocks.
The all share was up 0.79% at 51‚451.4 points and the top 40 index 0.93% at 44‚718.7.
Resources were up 2.12%‚ gold miners 0.96% and platinums 0.37% while banks lost 0.31%. Industrials were up 0.71%.
International markets were mixed with Dow Jones Industrial Index down 0.38% to 19887.38 after it failed to break through the 20‚000 level on Monday.
The French CAC 40 was 0.04% down‚ the German Dax was flat (0.02%) and the London FTSE gained a marginal 0.24%
Asian markets were also mixed with the Hang Seng 0.83% firmer at 22‚744.85 points and the Nikkei dipped 0.79% to 19‚301.44 points.
Brent crude was up 0.74% to $55.14 a barrel by midday after having lost up to 3% since the beginning of the year. The market is still apprehensive about the effect of higher US shale production. There is also a worry that last year’s Opec agreement to cut output may not hold.
Anglo American jumped 5.21% to R201.60 and BHP Billiton 2.74% to R228.44.
Anglogold Ashanti rose 1.27% to R158.13 and Harmony 1.32% to R32.80.
Anglo American Platinum gained 1.57% to R286.13.
Rand hedge Richemont surged 3.34% to R94.25‚ but British American Tobacco eased 0.27% to R772.55.
Financial services group Sanlam was up 1.28% at R65.49 with the former CEO Johan van Zyl taking over as chairman. - TMG Digital