Weaker rand boosts JSE
27 October 2009
A stronger opening from the Dow coupled with a slightly weaker rand led the JSE into the black on Monday.
At 5pm the JSE all share index had collected 0.40%, with resources up 1.03% and platinum producers adding 1.16%. Gold miners moved 0.56% higher.
Banks lost 1.71% and financials weakened 0.74%, but industrials edged up 0.29%.
At 4.45pm the rand was bid at 7.53 to the dollar from 7.47 at the JSE close on Friday. Gold was quoted at $1 054.42 a troy ounce from $1 054.95/oz at the JSE's last close, and platinum was at $1 360.50/oz, from $1 356/oz at its previous close.
"A firmer opening on the Dow coupled with a weaker rand boosted local stocks today," a local trader said.
"We will continue to track US markets, with an eye on company earnings," he said.
Back in Johannesburg, Anglo American plc was up 2.60 rand to 294.10 rand and BHP Billiton collected 1.85% to 227.99 rand.
Petrochemicals group Sasol added 70 cents to 310.50 rand.
Gold miner AngloGold Ashanti gained 94 cents to 325.94 rand, Harmony profited 1.49% to 84.24 rand and Gold Fields edged up 55 cents to 107.25 rand.
Platinum miner Anglo Platinum shed four rand to 669 rand, but Impala Platinum rose 2.14% to 178.75 rand and Lonmin was up 2.21% to 215.52 rand.
In diversified miners, Exxaro slipped 2.18% to 91.51 rand.
Highveld Steel dropped 2.21% to 66.50 rand and metals group ArcelorMittal was off one rand to 112 rand.
Kumba Iron Ore fell 1.70% to 242.80 rand.
Among industrials on the JSE, brewer SABMiller collected 1.58 rand to 203.80 rand and British American Tobacco firmed 4.55 rand to 247.50 rand.
Pretoria Portland Cement weakened 2.84% to 33.19 rand.
Electricals group Reunert pocketed 2.87% to 57 rand.
Banking group Standard Bank was down 1.40% to 98.45 rand, Nedbank gave up 2.54% to 122.20 rand, and Absa weakened 2.87% to 125 rand.
RMB Holdings subsided 2.63% to 28.14 rand.
Among retailers, JD Group moved 2.53% to 43.10 rand, along with Lewis down 2.94% to 54.74 rand.
Massmart advanced 3.13% to 92.57 rand and Pick n Pay was up 1.33% to 41 rand.
Construction group Aveng garnered 1.08% to 42 rand.
Famous Brands profited 10 percent to 23.10 rand. The fast food restaurant chain reported first half diluted headline earnings a share of 91 cents, a 16.6% increase from the 78 cents reported for its first half last year.
Headline earnings per share were 16% higher at 93 cents for the six months to end August 2009 from 80 cents for the same six months a year ago.
Revenue increases 14% to R811-million from R715-million and operating profit was up 13% to R140-million from R124-million.
The company declared an interim dividend of 50 cents, 39% up from last year's interim dividend of 36 cents.
Pioneer Food slipped 3.85% to 35 rand.
Super Group dropped 50.39% to 63 cents. The group is currently undergoing a R1-billion rights issue.
Media Group Nasper N fell 1.40% to 282 rand.
Telecommunications group Telkom was down 1.20% to 45.28 rand.
