SOUTH African stocks ended more than 500 points firmer on Friday supported by a strong opening on Wall Street as well as a good performance by resource and precious metal counters.
By 5pm, the JSE all share index had added 2,87%, with resources rising 5,62%, platinum counters gaining 7,31% and gold miners firming 7,26%.
Banks edged up 0,59%, financials collected 0,73% and industrials rose 1,02%.
“The Dow ticked up at its open and that helped international markets. The dollar weakened and that is why metal and crude oil prices ticked up,” an equities trader said. “It’s gold, platinum and resource stocks that are leading the upside. There is also some bargain hunting as buying comes in at these low levels.
“With the public holiday in the US on Monday we can expect a quiet day for the local market,” he said.
On the JSE, Anglo American (AGL) gained 7,67% to R203 and BHP Billiton (BIL) added 4,92% to R175,27.
Petrochemicals giant Sasol (SOL) was up 2,11% to R290. ArcelorMittal (ACL) was up 4,45% to R82.
Among gold miners, AngloGold Ashanti (ANG) firmed 8,20% to R256,98, Gold Fields (GFI) added 5,98% to R82 and Harmony (HAR) rose 7,03% to R99.
Platinum miner Anglo Platinum (AMS) jumped 5,78% to R513, Impala Platinum (IMP) was up 8,51% to R135,64 and Lonmin (LON) collected 2,17% to R125,26.
African Rainbow (ARI) rose 7,24% to R104,02 and Exxaro (EXX) was up 2,90% to R71.
Brewer SABMiller (SAB) added 2,11% to R158, Barloworld (BAW) collected 3,78% to R38,40 and British American Tobacco (BTI) firmed 3,53% to R264,09.
However, Bidvest (BVT) lost 1,96% to R100 and Imperial (IPL) gave up 1,96% to R56,05.
Banker FirstRand (FSR) was up 3,56% to R15,11, but Absa (ASA) weakened 1,31% to R105,70.
Financial services group Old Mutual (OML) was up 2,53% to R8,51 and Sanlam (SLM) edged up 5c to R16,54.
Sugar group Illovo (ILV) gained 5,33% to R25,70 and Tongaat Hulett (TON) added 2,18% to R69.
Retailer Foschini (FOS) eased 5c to R47,45.
JD Group (JDG) lost 3,74% to R36 and Spar (SPP) gave up 2,46% to R55,50, but Steinhoff (SHF) gained 5,29% to R12,33.
Construction group WBHO (WBO) was off 3,44% to R105,25 and Murray & Roberts (MUR) lost 1,08% to R46. Telecommunications group MTN Group (MTN) gained 2,45% to R101,94 and Telkom (TKG) was up 4,05% to R113.
South African near-dated futures broke a seven-day losing streak on Friday, ending higher in line with world markets which received cheer from the news that Bank of America had received an emergency capital injection of $20bn from the US government. The near-dated Alsi contract ended 2,14%, or 397 points, firmer at 18920.
A total of 30554 Alsi contracts changed hands compared with 47031 on Thursday, a Safex official said.
South African white maize futures ended flat on Friday with some pressure being added by the stronger local currency. A trader also said that falls on the local market were limited by weather concerns in key planting areas. I-Net Bridge
