The JSE added 0.27% to the previous sessions 1.26% gain to end the week on a healthy 67,028.86 points on the back of significant gains in private hospital stocks and as hospitality counters continue to benefit from easing travel restrictions.
Mediclinic led the gains with an 11.39% surge following an upbeat trade update in which the private hospitals operator said its revenue for the six months to end-September was ahead of pre-pandemic levels on a recovery in patient activity across all three divisions. Peers Netcare gained 6.52% and Life Healthcare 2.60%.
Drugmaker Aspen Pharmacare jumped 3.63%.
Hotel groups City Lodge (+4.55%), HCI (+2.74%) and Tsogo Sun Hotels (+3.66%) all gained, but Sun International (-2.07%) bucked the trend.
Also benefiting from the easing lockdown restrictions, Steers and Debonairs owner Famous Brands gained 6.08%.
Other gainers included index giants Anglo American (+0.51%), Naspers (+0.59%), Prosus (+1.47%) and Sasol (+2.37%).
Rand-hedges AB Inbev (-2.35%), BHP (-0.65%) and British American Tobacco (-0.75%) and miners African Rainbow Minerals (-2.71%), Northam (-2.27%) and Goldfields (-2.09%) were among the heavyweight losers.
The rand, which looked pretty happy around the R14.70-level against the US dollar for most of the day, broke out in afternoon trade to trade within a whisker of the R14.60-level. The local unit was last changing hands at R14.62/$.
“The move is a little perplexing as the lack of movement in the US dollar and the weaker gold price usually is not conducive to further rand strength. However, we have seen the EM currencies all trading a little stronger in afternoon trade which could be down to profit-taking or a bit of ‘risk-on’ in the market. We will have to see if the momentum continues into next week,” comments TreasuryONE.
On the commodity front gold dropped 1.55% to last trade at $1,768/oz, while palladium plunged 2.34% to $2,083.50. Platinum was flat at around $1,056, while Brent crude was threatening to top $85 a barrel.
And Bitcoin topped $60 000, nearing a record high, on growing US ETF hopes.
Indicators as at 17:00
Currencies
USDZAR 14.6175
EURUSD 1.1602
EURZAR 16.9541
GBPUSD 1.3767
GBPZAR 20.1179
AUDZAR 10.8488
CADZAR 11.8229
CNYZAR 2.2700
ZARJPY 7.7953
CHFZAR 15.8270
USDAOA 596.50
Bonds and equities
R186 7.87%
US 10 Year 1.56%
JSE 0.19%
FTSE 0.28%
S&P 500 0.57%
Commodities
Gold $1 774.87
Plat $1 057.32
Plad $2 081.25
Rhod $14 090.00
Irid $4 690.00
Ruth $648.00
Copp $10 552.50
Brent $84.76
Iron Ore 62.5% $122.83
Coal API4 $244.25
Gold ZAR R25 936.31
Plat ZAR R15 450.72
