The JSE traded firmer on Monday, opening the new week where it left off the last by adding 2.09% while global peers also traded in an upward trajectory as China eased some Covid restrictions.
The All Share Index closed at 71,958 points while the top 40 added 2.27% to close on 65,335 points.
In company news, Momentum Metropolitan (1.86%) recorded a strong headline recovery in normalised headline earnings for the nine months ended March 2022. Operating profit grew by 26% to R1.73 billion. This operating result was supported by good earnings growth in Momentum Life, Momentum Corporate, Momentum Metropolitan Health and Guardrisk.
“New business volumes, as measured by present value of new business premiums (PVNBP), increased 16% from the prior period to R54.5 billion. New business growth was driven by strong performance from Momentum Investments, Metropolitan Life and Momentum Corporate,” said the group.
AngloGold Ashanti (1.45%) said it had been approved for a second listing on A2X Markets with shares available for trading from June 6. The gold counter said it would retain its listings on the JSE, NYSE, the Australian Stock Exchange and Ghana Stock Exchange.
AngloGold Ashanti’s issued share capital will be unaffected by the additional listing on A2X.
In the currency markets, there was little movement today with the United States out of the market due to the Memorial Day holiday.
“We saw the Rand drift in a very narrow 10-cent range and threatened to break below R15.45/$ at one stage during the morning trade. The Rand is currently trading at R15.52 against the US dollar, almost at the level it opened this morning,” comments forex trading house TreasuryONE.
Commodities also traded sideways with none of the metals posting any major gains or losses. Gold is trading at $1,856, platinum at $955 and palladium at $2,036. Brent crude solidified the move it made on Friday and is currently trading at $120 per barrel.
