The JSE firmed on Friday as it rebounded from the aggressive sell-off recorded on Thursday.
The local bourse was buoyed by US markets which closed firmer on Thursday despite an aggressive sell-off for the better half of that trading session. Locally, the index opened firmer and added on to its gains during the course of today’s trading session as global markets anticipated the release of key US jobs economic data.
Index heavyweight, Naspers [JSE:NPN], helped propel the index higher as it jumped 4.88% to close at R3019.33 per share. This was despite Tencent Holdings closing lower on the Hang Seng earlier on. BHP Billiton [JSE:BIL] added 1.11% to close at R272.12 per share, whilst banks such as Barclays Africa [JSE:BGA] and Standard Bank [JSE:SBK] added 1.85% and 1.08% respectively.
Mondi PLC [JSE:MNP] and Bidvest [JSE:BVT] recorded gains of 1.15% and 1.23% respectively. Royal Bafokeng Platinum [JSE:RBP] had recorded another positive move after it added 5.38%. EOH Holdings [JSE:EOH] added 0.88%, whilst Coronation [JSE:CML] and Grindrod [JSE:GND] inched up 1.88% and 4.01% respectively.
The biggest slide of the day was recorded in Dis-Chem which lost 13.86% to close at R30.40 per share. This was mainly on the back of their full year results released today which missed most analysts’ estimates despite recording a profit. Steinhoff International [JSE:SNH] lost 9.05% to close at R1.91 per share, whilst Zeder Investments [JSE:ZED] and Datatec [JSE:DTC] lost 3.02% and 4.18% respectively.
On the Top-40 index, AngloGold Ashanti [JSE:ANG] and Gold Fields [JSE:GFI] traded softer as Gold prices eased from their overnight highs. The two stocks lost 3.04% and 1.97% respectively. British American Tobacco [JSE:BTI] and Bid Corporation [JSE:BID] lost 1.28% and 2.28% respectively, whilst listed property companies, Redefine Properties [JSE:RDF] and Growthpoint Properties shed 0.85% and 2.58% respectively.
The JSE All-Share Index ended the day 0.65% higher whilst the blue-chip Top-40 Index gained 0.92%. All the major indices managed to close in the green which saw the Industrials Index gain 1.23%, whilst the Resources and Financials Indices added 0.26% and 0.11% respectively.
The Rand traded mostly flat, however there was some volatility recorded when the USA released its jobs data this afternoon. The local currency slid to a session low of R12.66/$ before rebounding to trade at $12.58/$ at 17.00 CAT.
The US dollar also traded relatively mixed but it was stronger compared to its overnight close. This resulted in Gold metal prices sliding to a session low of $1308.06/Oz, before rebounding to trade at $1311.20/Oz at 17.00 CAT. At that same time Platinum and Palladium were trading at $904.69/Oz and $963.40/Oz respectively.
Brent Crude traded intermittently between gains and losses, and just after the JSE close the commodity was trading at $73.94/barrel.