The JSE continued to defy negative news out of China, gaining 0.64% to 64,542.87 points with Exxaro and Thungela Resources leading the charge.
The coal producing miners jumped 10.73% and 4.11% respectively after PwC predicted a bright future for local coal miners to “make good money” for 10 years and Citi maintained its buy recommendations for both the Anglo American spinoff and Exxaro owing to an improvement in the seaborne coal trade, reports Miningmx.
Hotel stocks continued to add gains amid bets that tourism will pick up as Covid travel restrictions ease, with City Lodge gaining 4.63% and Sun International 7.46%. HCI and Tsogo Sun dipped 1.89% and 0.88% respectively.
Adding support to the bourse were Telkom (+4.44%), Santam (+4.23%), PSG-Konsult (+4.91%) and Naspers (1.65%)
Higher oil prices – Brent crude was last trading 1.87% firmer at $82.79 a barrel – continued to fuel Sasol (+1.2%). Renergen gained 1.1%, while small cap Oando added 25%. Montauk, however, ran out of gas, losing 3.91%.
Gold counters followed the gold price (-0.58% to $1,759.09/oz) lower with Sibanye Gold losing 2.64% and Gold Fields 2.34%. Kumba Iron Ore (-2.37%) also lost ground.
In the currency market, the rand tracked a reasonably flat dollar and other emerging market currencies, drifting sideways in the R14.90/R15.10 range against the greenback.
“Risk-off sentiment continues to linger but did not lead to rand losing any further ground. Emerging markets across the board have been tracking reasonably flat today, tracking a move in the dollar,” comments TreasuryONE.
The focus for the local unit is now on Friday’s employment figures out of the US.
Meanwhile, Bitcoin’s dollar value cracked $50,000 for the first time in a month, reports Bloomberg.
Indicators as at 17:00
Currencies
USDZAR 15.0665
EURUSD 1.1590
EURZAR 17.4569
GBPUSD 1.3620
GBPZAR 20.5142
AUDZAR 10.9620
CADZAR 11.9776
CNYZAR 2.3359
ZARJPY 7.3975
CHFZAR 16.2201
USDAOA 599.00
Bonds and equities
R186 7.78%
US 10 Year 1.53%
JSE 0.54%
FTSE 0.94%
S&P 500 1.19%
Commodities
Gold $1 752.13
Plat $957.59
Plad $1 917.75
Rhod $13 390.00
Irid $4 990.00
Ruth $673.00
Copp $9 091.45
Brent $82.93
Iron Ore 62.5% $117.76
Coal API4 $228.00
Gold ZAR R26 393.56
Plat ZAR R14 424.85
