MARKET WRAP: A fine day for the JSE and futures, but bonds weaken with rand
The JSE began 2017 on a positive note, even if in subdued trade, following the release of market-pleasing purchasing managers data from China. The rand lost ground as the dollar surged on expectations of accelerated interest-rate increases in the US this year. The JSE all share index ended 0.72% firmer at 51,020.7 points, its first close above 51,000 since the third week of November. Industrials added 0.42%, resources 1.51%, banks 0.82% and financials 0.54%. The day’s real big winners, however, were platinum miners which notched up 5.78%. But gold miners fell victim to a lower bullion price owing to the resurgent dollar, finishing the session 0.36% lower. Among individual platinum stocks Lonmin rocketed 16.07% to R27.23, Impala gained 3.56% to R44.26 and Anglo American Platinum 4.66% to R276.72. Gold miner Harmony lost 1.3% to R31.12 and Anglogold Ashanti 1.08% to R150.93. BHP Billiton added 2.34% to R223.80 and Glencore closed 2.72% higher at R47.95. Nedbank did best of the big fou...
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