Platinum and resource counters boost JSE amid firmer commodity prices
The JSE closed firmer on Tuesday as resource counters were the star performers on the day, after Anglo American closed substantially firmer after a positive Kumba Iron Ore trading update. Anglo American Platinum also delivered a market-pleasing trading update and production report. 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, closing 1.03% higher, due to firmer metal prices. At the JSE’s close, the platinum price had gained 2.76% to $962.10 an ounce and the gold price had added 0.57% to $1,271.43. Financials closed 0.49% lower after some recent good 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 adding 0.63%, while the German Dax 30 was flat (-0.02%) and the French CAC was down 0.33%. Sasfin Securities portfolio manager Nicholas Sorour s...
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