JSE buoyed by metals
17 November 2009
The JSE closed solidly in the black on Monday, boosted by buoyant metals counters, with world markets reacting positively to signs of a strengthening recovery.
The JSE's all share index collected 1.53 percent to close at 27 104.290 points. Resources jumped 2.77 percent, while the platinum and gold mining indices lifted 2.60 percent and 2.57 percent respectively.
Banks and financials added 0.77 percent and 0.83 percent respectively, while industrials rose 0.52 percent.
Resources heavyweight Anglo American plc rallied 3.75 percent to 325.10 rand, while rival BHP Billiton jumped 2.58 percent to 228.33 rand. Synthetics giant Sasol added 1.47 percent to 294.25 rand.
Platinum miner Anglo Platinum collected 2.22 percent to 686.89 rand, while Impala Platinum lifted 2.46 percent to 171.10 rand.
Among gold counters, AngloGold Ashanti advanced 2.02 percent to 333.60 rand, Gold Fields jumped 3.17 percent to 108.95 rand, while Harmony soared 3.58 percent to 80.05 rand.
Among diversified miners, African Minerals surged 3.20 percent to 169 rand, while Exxaro soared 3.45 percent to 94.14 rand.
ArcelorMittal collected 2.27 percent to 112.50 rand, Highveld Steel lifted 1.49 percent to 68 rand, while Kumba Iron Ore advanced 2.44 percent to 256.21 rand.
Paper giant Sappi climbed 1.29 percent to 29.15 rand.
Among financial services groups, Old Mutual gained 2.64 percent to 14.38 rand, while Sanlam climbed 1.94 percent to 22.60 rand.
Banking giant Standard Bank rose 55 cents to 96.95 rand, Absa gained 1.80 percent to 130.30 rand, however Nedbank shed 85 cents to 120.50 rand.
Lonmin earlier reported platinum sales of 682 955 ounces for the year to end September 2009. This was two percent below its Marikana target and six percent lower than last year's full year sales. Revenue for the year halved to US$1.1-billion from $2.2-billion last year, and the company reported an operating loss of $142-million for the year, against an operating profit of $764-million a year ago.
This resulted in $272-million loss before tax, against a $779-million profit before tax in the year to end September 2008. A loss per share of 163.7 US cents a share was reported versus a 277.7 US cents profit per share a year back. No final dividend was declared. The group's share price rocketed 7.62 percent to 213.85 rand.
Meanwhile, Barloworld earlier reported diluted headline earnings per share (HEPS) of 280.5 cents for the year ended September 2009 from 606.1 cents a year ago. HEPS from continuing operations were 348.1 cents versus 607.6 cents previously. The company declared a total dividend of 110 cents per share.
Cash generated from operations was up 20 percent to R4.469-billion, reflecting strong operating cash generation in a difficult trading environment. Operating profit after the BEE transaction charges decreased 25 percent to R1.994-billion. The group's share price jumped 3.32 percent to 51.35 rand.
