The JSE erased earlier losses to close firmer on Thursday following a European led rebound.

The local bourse did open weaker after a steep sell-off in Asian trading but gains across the blue-chip index saw the All-Share index gain momentum. The JSE was also buoyed by the US markets which opened firmer after strong corporate earnings from Microsoft and Ford.

Locally, Statistics SA released PPI data for the month of September. Producer inflation YoY slowed down to 6.2% from a prior recording of 6.3%, while MoM came in at 0.5% from a previous recording of 0.6%.

Clicks [JSE:CLS] reported a decent increase in earnings in its full-year results which resulted in the stock closing amongst the day’s biggest gainers after adding 6.75% to close at R174.00. FirstRand [JSE:FSR] climbed to R63.84 after adding 4.91%, while ABSA Group [JSE:ABG] gained 3.52% to close at R145.27. imperial Holdings [JSE:IMP] gained 3.63% to close at R163.75, and Reinet [JSE:RNI] closed 3.56% firmer at R249.38.

Rand hedge, Sappi [JSE:SAP] added 3.39% to close at R81.07, while miner Kumba Iron Ore [JSE:KIO] rose to R277.52 after gaining 3.06%. Mondi PLC [JSE:MNP] managed to post gains of 2.99% to close at R337.30, and coal miner, Exxaro Resources [JSE:EXX] closed at R147.58 after adding 2.56%.

 Losses were relatively modest on the JSE Top-40 index with Mediclinic [JSE:MEI] shedding 1.39% to close at R64.56, while Aspen [JSE:APN] lost another 1.09% to close at R142.67. Bigger losses were recorded for Lonmin [JSE:LON] on the broader index as it lost 4.72% to close at R9.70, while Sibanye Stillwater [JSE:SGL] lost 3.91% to end the day at R10.32 per share.

The JSE Top-40 index eventually closed the day up 1.67% while the JSE All-Share index gained 1.47%. All the major indices closed in the green with the biggest gainer being the Financials index which climbed 2.1%. The Industrials and Resources indices gained 1.74% and 0.84% respectively.

The rand was little changed from its overnight close. The local currency peaked at R14.45/$ before retreating to trade at R14.55/$ at 17.00 CAT.

Brent crude inched up from its session lows to trade 0.39% firmer at $76.34/barrel just after the JSE close.

At 17.00 CAT, Gold was down 0.31% to trade at $1229.61/Oz, Platinum was 0.27% weaker at $827.92/Oz and Palladium was down 1.26% at $1114.33/Oz.

Ethereum was 0.61% weaker at $204.30/coin and Bitcoin was down 0.63% at $6546.30/coin.