The JSE opened firmer on Tuesday as resources rebounded, led by Anglo American after its iron ore division Kumba announced it would resume dividend payments. Kumba announced a R15.97 per share interim cash dividend, in accordance with the board’s policy of returning excess cash to shareholders, it said. At 9.38am Kumba was up 8.64% to R187.95 and Anglo American had added 5.31% to R195.50. Anglo American’s rise supported global miners, with BHP climbing 2.52% to R223.23. Platinum shares rebounded but gold stocks retreated despite a weaker dollar. Retailers, banks and financials were also higher as the rand continued to trade below R13 to the dollar. However, analysts said the fact that it had not firmed further could point to some weakness over the short term. The Dow closed 0.31% lower at 21,513.17 points on Monday in choppy trade as the market awaited the US Federal Reserve’s interest-rate decision on Wednesday. Asian markets trended weaker, with the Nikkei 225 down 0.10% and the H...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.