MARKET WRAP: JSE closes flat on mixed global markets
27 July 2017 - 18:57
byKarl Gernetzky
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The JSE closed flat in choppy trade on Thursday, having risen to within about 130 points of its record high, during the course of the day.
The all share closed 0.10% higher at 54‚888.90 points after hitting 55‚222.80 in early trade. Its previous record stands at 55‚355.10 points‚ reached on April 24 2015. The top 40 added 0.01%.
Platinum gained 1.97%‚ the gold index 1.18%‚ resources 1.11%‚ food and drug retailers 0.86%, and banks 0.79%. Property dropped 0.41% and industrials 0.27%.
Global markets were lifted by dovish commentary from the US Federal Reserve on Wednesday, with the focus also on company earnings reports.
Local equities have largely tracked global markets in the first half of this year, with the outlook from SA’s technical recession and political uncertainty affecting confidence, said Capital Economics analysts. The recovery in Sub-Saharan Africa’s big three economies would be stronger than most expect in the second quarter.
Activity data in Nigeria, SA, and Angola all suggested that growth accelerated in the second quarter, with SA’s turnaround particularly pronounced, the analysts said.
Anglo American led the charge in the resource sector‚ after declaring a dividend for the first time since 2015. This delighted the market‚ pushing the share price up 5% during the course of the day. Anglo American closed 3.01% higher at R208.36. The group said attributable profit for the six months to end-June was $1.4bn compared with an $800m loss in the period a year earlier.
Kumba Iron Ore was 1.96% higher at R197.81.
ArcelorMittal rose 4% to R5.20. The group earlier said revenue was up 12.6% to R19.1bn in the six months to end-June‚ partly offset by lower sales volumes.
Global beer giant Anheuser-Busch InBev jumped 6.87% to R1‚605.05 after announcing revenue grew 5% in the second quarter.
AngloGold Ashanti rose 1.90% to R127.37 and Sibanye 1.59% to R16.01.
Standard Bank ended the day 1.52% higher at R163.12.
MMI Holdings softened 0.52% to R20.90.
In retailers‚ Massmart gained 1.36% to R112.06 and Shoprite 1.72% to R204.06.
Intu Properties dropped 4.68% to R45.18 after keeping its interim dividend unchanged. Sirius Real Estate shed 3.06% to R9.50.
MTN plummeted 6.77% to R118.62‚ following the release of a disappointing trading update in the morning.
Naspers closed 0.19% lower at R2‚862.65.
Major global equity markets were mixed‚ with gains in consumer-discretionary and technology shares‚ including Facebook‚ pushing US stocks to new highs‚ reported Dow Jones Newswires.
At 5.42pm, the FTSE 100 was down 0.2%‚ the DAX 0.9% and the CAC 40 0.19%.
The Dow added 0.19%‚ and the Nasdaq 0.53%.
At the same time, the rand was at R13.0275 to the dollar from R12.8989. Gold had lost 0.22% to $1‚258.09 an ounce and platinum 0.67% to $926.71.
Brent crude added 0.81% to $51.32 a barrel.
The top-40 Alsi futures index gained 0.06% to 48‚723 points. The number of contracts traded was 23‚917 from Wednesday’s 26‚996.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
MARKET WRAP: JSE closes flat on mixed global markets
The JSE closed flat in choppy trade on Thursday, having risen to within about 130 points of its record high, during the course of the day.
The all share closed 0.10% higher at 54‚888.90 points after hitting 55‚222.80 in early trade. Its previous record stands at 55‚355.10 points‚ reached on April 24 2015. The top 40 added 0.01%.
Platinum gained 1.97%‚ the gold index 1.18%‚ resources 1.11%‚ food and drug retailers 0.86%, and banks 0.79%. Property dropped 0.41% and industrials 0.27%.
Global markets were lifted by dovish commentary from the US Federal Reserve on Wednesday, with the focus also on company earnings reports.
Local equities have largely tracked global markets in the first half of this year, with the outlook from SA’s technical recession and political uncertainty affecting confidence, said Capital Economics analysts. The recovery in Sub-Saharan Africa’s big three economies would be stronger than most expect in the second quarter.
Activity data in Nigeria, SA, and Angola all suggested that growth accelerated in the second quarter, with SA’s turnaround particularly pronounced, the analysts said.
Anglo American led the charge in the resource sector‚ after declaring a dividend for the first time since 2015. This delighted the market‚ pushing the share price up 5% during the course of the day. Anglo American closed 3.01% higher at R208.36. The group said attributable profit for the six months to end-June was $1.4bn compared with an $800m loss in the period a year earlier.
Kumba Iron Ore was 1.96% higher at R197.81.
ArcelorMittal rose 4% to R5.20. The group earlier said revenue was up 12.6% to R19.1bn in the six months to end-June‚ partly offset by lower sales volumes.
Global beer giant Anheuser-Busch InBev jumped 6.87% to R1‚605.05 after announcing revenue grew 5% in the second quarter.
AngloGold Ashanti rose 1.90% to R127.37 and Sibanye 1.59% to R16.01.
Standard Bank ended the day 1.52% higher at R163.12.
MMI Holdings softened 0.52% to R20.90.
In retailers‚ Massmart gained 1.36% to R112.06 and Shoprite 1.72% to R204.06.
Intu Properties dropped 4.68% to R45.18 after keeping its interim dividend unchanged. Sirius Real Estate shed 3.06% to R9.50.
MTN plummeted 6.77% to R118.62‚ following the release of a disappointing trading update in the morning.
Naspers closed 0.19% lower at R2‚862.65.
Major global equity markets were mixed‚ with gains in consumer-discretionary and technology shares‚ including Facebook‚ pushing US stocks to new highs‚ reported Dow Jones Newswires.
At 5.42pm, the FTSE 100 was down 0.2%‚ the DAX 0.9% and the CAC 40 0.19%.
The Dow added 0.19%‚ and the Nasdaq 0.53%.
At the same time, the rand was at R13.0275 to the dollar from R12.8989. Gold had lost 0.22% to $1‚258.09 an ounce and platinum 0.67% to $926.71.
Brent crude added 0.81% to $51.32 a barrel.
The top-40 Alsi futures index gained 0.06% to 48‚723 points. The number of contracts traded was 23‚917 from Wednesday’s 26‚996.
With Maarten Mittner
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