JSE slightly firmer as year draws to close

The JSE took an early lead from US markets to open firmer on Wednesday morning‚ despite a mixed performance from Asia.

By 9.30am‚ the JSE all share index was up 0.17% at 51‚035 points. The blue-chip top 40 index climbed 66.70 points to 46‚033.40. The resource 10 index was flat‚ the industrial 25 index added 0.10% and the financial 15 index rose 0.31%.

Major global markets continued to take direction from oil prices. A small improvement in oil prices on Tuesday supported US and European stock exchanges but a 0.43% reversion in West Texas Intermediate (WTI) to $37.20 a barrel and continued weakness in Chinese equities hit Asian trade.

The Nikkei 225 in Japan ended below the day’s highs but still positive‚ with a 0.27% gain to 18‚982.23. Japanese markets will be closed on Thursday and will reopen on January 4. The Hang Seng eased 0.45% to 21‚898.30‚ but the Shanghai Composite firmed 0.26% to 3‚572.88.

Spot gold lifted 0.1% to $1069.91/oz‚ but is still nearly 10% down for the year as a whole‚ and platinum added 0.07% to $890.20/oz. The rand was 0.22% weaker against the dollar at R15.3295.

Early gainers on the JSE included ArcelorMittal SA‚ whose major shareholders will be supporting the group’s rights issue. It added 6.98% to R4.60. Among other industrial companies‚ Aveng gained 5.5% to R2.30 while Barloworld rose 3.1% to R64.80. Anglo American clawed back some of the previous day’s losses with a 2.23% improvement to R70.99.

Retailers fared poorly‚ suggesting Christmas sales reports may be disappointing. Pick n Pay slipped 2.43% to R65.86‚ Truworths lost 3.13% to R90.09 and Italtile eased 1.61% to R11.60.

- TMG Digital/BDlive