Positive global sentiment lifts the JSE

Cape Town - The rand peaked at a 3-year high of R11.50/$ earlier on Monday due to a softer US dollar. However, the local currency gave up some of the gains due to the recovery in the US dollar, and it was trading at R11.58/$ at 17:00.

Gains were led by Assore [JSE:ASR] and Steinhoff [JSE:SNH] which inched up 7.87% and 7.01% on the day. After some profit-taking on Friday, Blue Label Telecoms [JSE:BLU] gained 7.05% to close at R13.66 per share.

Listed property stocks Greenbay Properties [JSE:GRP], Resilient [JSE:RES] and NEPI Rockcastle [JSE:NRP] which have shed quite a substantial portion of their market capitalisation recently, managed to gain 6.98%, 5.11% and 5.55% respectively. Sasol [JSE:SOL] ended the day 1.43% firmer mainly on the back of decent earnings results which were higher than the market guidance.

Diversified miners Anglo American PLC [JSE:AGL] and BHP Billiton [JSE:BIL] continued their strong run as they gained 3.07% and 1.56% respectively, whilst retail stocks Massmart [JSE:MSM] and Woolworths [JSE:WHL] gained 2.14% and 3.45% respectively.

Rand hedges Richemont [JSE:CFR] and Sappi [JSE:SAP] recorded modest gains of 0.72% and 0.23% respectively.

Financial stocks did open firmer, but they subsequently came under pressure as the rand traded softer.

First Rand [JSE:FSR], Standard Bank [JSE:SBK] and Capitec [JSE:CPI] lost 0.83%, 1.39% and 1.04% respectively. Remgro [JSE:REM] and Bid Corp [JSE:BID] also traded softer to end the day 1.93% and 3.23% weaker respectively. Healthcare stocks Mediclinic [JSE:MEI] and Life Healthcare [JSE:LHC] shed 0.54% and 0.61% respectively.

The JSE All-Share index managed to end the day 0.26% firmer whilst the blue chip Top 40 index gained 0.22%. The JSE indices were mixed as the Industrials index and Financials index lost 0.17% and 0.20% respectively. However, the Resources index jumped 1.78%.

Gold firmed on the day due to the earlier weakness in the US dollar which saw it peak at a high of $1 341.06/Oz. The precious metal did ease as the greenback rebounded, and just after the close it was trading at $1 334.50/Oz.

Palladium jumped more than $10 to reach an intra-day high $1 067.79/Oz. This was before it retraced slightly to trade at $1 056.84/Oz just after the close. Platinum was marginally firmer as it traded at $997.73/Oz just after the close after having reached a day’s high of $1 007.93/Oz.

Brent Crude traded softer as it reached a day’s low of $66.72/barrel before being recorded at $66.81/barrel just after the close.

ZAR/USD
17.00
(-0.36)
ZAR/GBP
21.21
(-0.30)
ZAR/EUR
19.12
(-0.30)
ZAR/AUD
11.81
(-0.62)
ZAR/JPY
0.16
(-0.21)
Gold
1774.43
(-0.02)
Silver
18.05
(+0.69)
Platinum
807.99
(+0.12)
Brent Crude
42.92
(+2.64)
Palladium
1914.00
(+1.46)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
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