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US jobs report lifts global markets

Musa Makoni

The JSE finally matched trends with global markets on Friday as it closed firmer following a robust session.

The local bourse has lagged global sentiment over the past two sessions primarily due to weak local data. On the global markets, the USA released its non-farm payrolls data which showed that the US economy added 266 000 jobs in the month of November, which was better than the forecasted 181 000 jobs. US unemployment rate also slowed to 3.5% from a prior recording of 3.6% which sent the US dollar and the US equity futures higher.

The rand held steady against the greenback as it was range bound between R14.61/$ and R14.67/$. The rand was trading 0.02% weaker at R14.64/$ at 17.00 CAT.

Accelerate Property Fund [JSE:APF] rocketed to close amongst the day’s biggest movers as it climbed 22.48% to close at R1.58. ArcelorMittal [JSE:ACL] surged 7.38% as it closed at R1.60, while Lewis Group [JSE:LEW] gained 7.08% to close at R33.43 albeit on low traded volumes. Hospitality group Tsogo Sun Gaming [JSE:TSG] gained 5.41% to close at R12.46, while its sector peer Sun International [JSE:SUI] added 5.13% to close at R40.97. Mining giant BHP Group [JSE:BHP] rose 1.97% to close at R327.70, while Kumba Iron Ore [JSE:KIO] firmed 3.44% to close at R398.76. Other significant risers on the day included ABSA group [JSE:ABG] which gained 1.97% to close at R147.63, Woolworths [JSE:WHL] added 1.73% to close at R49.43, while Vodacom [JSE:VOD] closed at R114.50 after rising 1.34%.

Gold miners struggled on the day as declines were recorded for AngloGold Ashanti [JSE:ANG] which closed 3.94% lower at R277.00, Sibanye Gold [JSE:SGL] which shed 2.89% to close at R30.61, and Harmony Gold [JSE:HAR] which weakened by 2.31% to close at R45.74. Impala Platinum [JSE:IMP] retreated 1.81% to close at R124.90, while diversified miner South32 [JSE:S32] which lost 1.74% to close at R25.35. Pharma giant, Aspen Pharmacare [JSE:APN] lost 1.13% to close at R111.50, while medical aid provider Discovery Ltd [JSE:DSY] closed at R113.92 after dropping 1.27%. Losses were also recorded for Sasol [JSE:SOL] which fell 1.52% to close at R260.50, and Brait [JSE:BAT] which closed at R14.63 after falling 2.47%.

The JSE All-Share index closed 1.05% firmer while the JSE Top-40 index gained 0.98%. All the major indices advanced on the day. Resources gained 0.94%, Industrials gained 1.03%, and Financials added 1.18%.

Brent crude surged on the back of news of that OPEC was increasing output cuts. The commodity was trading 2% higher at $64.64/barrel just after the JSE close.

At 17.00 CAT, Platinum was 0.58% weaker at $892.85/Oz, Gold had lost 1.05% to trade at $1460.18. while Palladium was 0.38% firmer at $1879.14/Oz.


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