Relief for global stocks sees JSE close firmer

The JSE rebounded on Friday along with other global equity markets following a resurgence led by Asian stocks.

Tencent Holdings which has broken stock market records on the course of its sell-off over the past couple of weeks, ricocheted to close 8.01% higher at $HK288.40 per share on Hang Seng.

Markets were also optimistic of Q3 earnings results from some of the major US banks which mostly came in better than expected.

On the JSE, Naspers [JSE:NPN] was the star of the day as it gained 8.46% to close at R2828.52 per share. Most of the blue-chip stocks also rose on the back of that positive sentiment, whilst financials and retailers were also buoyed by the firmer rand.

Aspen [JSE:APN] added 5.23% to close at R162.78, while Old Mutual [JSE:OML] closed at R21.74 after adding 4.4%. Mr Price [JSE:MRP] jumped 5.38% to end the day at R234.00, and its sector peer, Truworths [JSE:TRU] firmed by 4.72% to close at R81.68.

On the broader index, Libstar rose to close at R7.15 after picking up 9.17%, while Pioneer Foods [JSE:PFG] gained 6.56% to close at R83.64 per share.

Cement maker, PPC Limited [JSE:PPC] closed 4.5% higher at R5.80, and Lonmin [JSE:LON] was one of the lone performers amongst the miners as it gained 3.43% to end the day at R10.25.

Tongaat Hulett [JSE:TON] came under pressure as it slid by 7.09% to close at R59.00 per share. British American Tobacco [JSE:BTI] retreated to close 4.63% weaker at R633.56, while Reinet [JSE:RNI] fell to R243.12 after dropping 4.46%.

Diversified miner, BHP Billiton [JSE:BIL] lost 1.07% to end the day at R301.75 per share.

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The JSE All-Share index maintained its upward momentum to end the day 2.38% firmer, while the blue-chip JSE Top-40 index closed 2.65% higher.

The Industrials index jumped 3.76%, while the Resources and Financials indices gained 0.05% and 2.69% respectively.

Despite the firmer close, the JSE All-Share index closed 1.72 weaker for the week.

The rand gained over a percent against the greenback as it peaked at a session high R14.42/$. It was recorded at R14.45/$ at 17:00.

Brent crude rallied briefly above $81.barrel earlier but it subsequently eased to trade at $80.45/barrel just after the JSE close.

Gold cooled off following Thursday’s big surge. The precious metal was trading 0.55% weaker to fetch $1217.54/oz at 17:00.

Platinum was down 0.41% to trade at $837.46/oz, and Palladium was down 0.07% to trade at $1079.08/oz.

At 17:00, Bitcoin was up 0.26% to trade at $6317.00/coin, while Ethereum was down 1.82% to trade at $197.78/coin.

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Rand - Dollar
16.26
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Rand - Pound
19.75
+0.4%
Rand - Euro
16.72
+0.3%
Rand - Aus dollar
11.53
+0.1%
Rand - Yen
0.12
+0.5%
Gold
1,785.52
-0.2%
Silver
20.30
-0.0%
Palladium
2,244.00
-2.0%
Platinum
950.50
-1.1%
Brent Crude
99.60
+2.2%
Top 40
64,287
-0.5%
All Share
70,971
-0.4%
Resource 10
64,374
-2.2%
Industrial 25
86,973
-0.1%
Financial 15
16,105
+0.9%
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