Miners lead the JSE higher

Cape Town - The JSE closed firmer on Monday as miners led the way on the back of firmer commodity prices.

On the top gainers, AngloGold Ashanti [JSE:ANG] led the pack as it gained 4.40% to close at R139.90 per share. Gold Fields [JSE:GFI] gained 2.19% whilst Sibanye-Stillwater [JSE:SGL] firmed by 1.90%. Platinum miners Impala Platinum [JSE:IMP] and Anglo American Platinum [JSE:AMS] also recorded modest gains to end the day up 3.13% and 1.20% respectively.

Adcock Ingram [JSE:AIP] and Sanlam [JSE:SLM]  were among the biggest gainers of the day as they gained 3.86% and 3.85% respectively. REITS such as Growthpoint Properties [JSE:GRT], Hyprop [JSE:HYP] and Greenbay Properties [JSE:GRP] recouped some of the losses from last week to close the day up 3.03%, 2.98% and 0.91% respectively. Lewis [JSE:LEW] and Spur Corporation [JSE:SUR] also recorded decent gains of 2.49% and 4.03% respectively.

RCL Foods [JSE:RCL] and EOH Holdings [JSE:EOH] took a knock today to close the day down 7.52% and 5.54% respectively. Woolworths [JSE:WHL] came under pressure after the release of a trading update and statement which disappointed. The trading statement indicated that they are expecting headline earnings per share for the 26 weeks ended 24 December 2017 to decrease by between 12.5% and 17.5%, whilst adjusted HEPS are expected to decrease by between 7.5% and 12.5%. Woolworths closed the day down 5.50% and R59.85 per share.

Steinhoff [JSE:SNH] shed another 4.82% to close at R5.93 per share, whilst Curro Holdings [JSE:COH] lost 2.44%. Index heavyweight Naspers [JSE:NPN] lost 0.38% and healthcare stocks Life Healthcare [JSE:LHC] and Mediclinic [JSE:MEI] came under pressure to drop 0.64% and 0.78% respectively.

The JSE All-Share Index eventually closed 0.26% firmer, whilst the blue chip Top-40 Index gained 0.25%. The Industrials Index came under pressure as it shed 0.27%, however the Resources Index and Financials Index gained 1.04% and 0.84% respectively.

The rand recorded moderate gains against the greenback to peak at an intra-day high R12.26 to the US dollar. The rand strengthened mainly due to US dollar weakness which saw the greenback reaching lows last recorded in January 2015. At 17:00 the USD/ZAR was recorded at R12.31/$.

Gold gained on the back of the weaker US dollar to peak at an intra-day high of $1 341.09/Oz. This supported gold miners on the JSE as indicated by the Gold miners’ index which closed up 2.74%.

Palladium continued on its bullish trend to gain more than 2%. It was trading at $1 124.30/Oz just after the JSE closed. Platinum was trading mostly flat as it failed to gain enough upside momentum. The metal was trading at $999.93/Oz just after the JSE closed.

Brent Crude reached a high last recorded in May 2015 as it peaked at $70.19 per barrel. It did retrace slightly to trade at $69.84 per barrel just after the JSE close.

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ZAR/USD
16.81
(-0.26)
ZAR/GBP
21.34
(-0.12)
ZAR/EUR
19.02
(-0.13)
ZAR/AUD
11.73
(-0.21)
ZAR/JPY
0.15
(+0.60)
Gold
1681.70
(+0.13)
Silver
17.39
(+0.17)
Platinum
815.55
(+0.35)
Brent Crude
41.90
(+5.78)
Palladium
1949.00
(+0.59)
All Share
54722.38
(+2.85)
Top 40
50199.80
(+2.79)
Financial 15
11467.53
(+4.66)
Industrial 25
74264.52
(+2.52)
Resource 10
49969.31
(+2.29)
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