MARKET WRAP: A surge in metals prices boosts the JSE all share, while bonds hold firm
Mining companies were the flavour of the day on the JSE on Tuesday as the prices of metals, such as copper, zinc and palladium surged. This boosted the all share, further supported by a global commodities rally and a late recovery in industrial shares, despite some rand strength. At the market’s close, spot gold was up 0.82% at $1,190 an ounce, with platinum rising 0.68% to $980 an ounce. The Dow Jones Industrial Index was down 10.16% at the JSE’s close with European markets mixed. The FTSE 100 was up 0.39% at record levels on the weaker pound. The German Dax was flat (+0.07%). Brent crude was 0.52% higher at $55.02 a barrel. It is down 3.5% for the year so far. The all share closed 1.35% higher at 51,740.20 and the blue-chip top 40 rose 1.61%. Resources climbed 3.41% and platinums added 2.34%. The gold index firmed 1.82%. Industrials closed 1.11% up. General retailers were down 2.04%. The SA listed property index lost 0.27%, and banks lost 0.16%. Afrifocus Securities portfolio mana...
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