The JSE tracked global gains as upbeat corporate earnings supported stock exchanges, with Montauk (+8.48%) benefiting from an upbeat report on renewable demand. Index-weighty Naspers (+2.26%) also added to the 0.95% jump in the All Share index to 67,615.31 points.
Other notable gainers were Sappi, up 5.66% amid a strong demand for paper and higher paper prices, and PSG Konsult, up 4.17% as investors rushed to buy the stock before trading ex-dividend.
Sibanye-Stillwater gained 2.57% after agreeing to a R14.77bn deal for nickel and copper mines in Brazil.
Anglogold Ashanti lost 1.04% and Absa gained 0.96% following a report that former Anglogold chair Sipho Pityana has served legal papers on the Reserve Bank, claiming the bank is preventing him from becoming chair of Absa because former Absa CEO Maria Ramos ‘weaponised’ a false sexual harassment charge against him.
Tiger Brands lost 0.92% after the KOO brand owner said the July unrest and canned products recall cost it over R700m.
Also among the losers were DRDGold (-2.11%), Angloplat (-1.42%) and Mr Price (-1.39%).
On the forex front, the rand gave up earlier gains as it tracked emerging market peers weaker to test the R14.80s against the US dollar yet again. “The rand and Turkish lira have been the most vulnerable today, with Russia still the strongest at the moment,” comments TreasuryONE.
Commodities were on the back foot, with palladium and platinum down over 2% while gold dropped just under 1% amid a stronger dollar.
Brent Crude continues to trade at recent highs, giving Sasol a slight lift to end the day 0.1% higher.
Indicators as at 17:00
Currencies
USDZAR 14.8421
EURUSD 1.1592
EURZAR 17.1997
GBPUSD 1.3789
GBPZAR 20.4566
AUDZAR 11.1445
CADZAR 11.9813
CNYZAR 2.3239
ZARJPY 7.6923
CHFZAR 16.1156
USDAOA 596.80
Bonds and equities
R186 7.97%
US 10 Year 1.64%
JSE 1.11%
FTSE 0.65%
S&P 500 0.62%
Commodities
Gold $1 786.14
Plat $1 026.68
Plad $1 965.07
Rhod $14 090.00
Irid $4 490.00
Ruth $618.00
Copp $9 985.35
Brent $86.22
Iron Ore 62.5% $122.06
Coal API4 $221.00
Gold ZAR R26 489.17
Plat ZAR R15 226.08
