The JSE closed firmer on Tuesday as resources counters were the star performers on the day as Anglo American closed substantially firmer after a positive Kumba Iron Ore trading update on the day. Anglo American Platinum also delivered a market-pleasing production update. Anglo American owns the majority stake in these companies. The JSE closed 0.13% firmer at 51,749.9 points and the top 40 lifted 0.15%. Platinum counters led the gains, surging 3.46%, followed by resources, 1.03% higher, due to firmer metal prices. By the close the platinum price had jumped 3.18% to $966 an ounce, while gold had added 0.70% to $1,273.20. Financials closed 0.49% lower after some good recent gains, while the South African listed property index gave back 0.61%. European markets were mixed in late trade, with the UK’s FTSE 100 having added 0.63%, while the German Dax 30 was flat (-0.02%) and the Paris CAC was down 0.33%. Sasfin Securities portfolio manager Nicholas Sorour said a weak pound weighed on all...
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