The JSE rose above 58,000 points for the first time on Monday, helped in part by resources shares, which in turn received a fillip from buoyant commodity prices. The copper price broke through the $7,000 a tonne barrier for the first time since 2014, boosting shares such as Anglo American and BHP. Palladium hit $1,000 an ounce for the first time since 2001, stretching its year-to-date gains to 47%. SP Angel attributed the rise in to increased demand and anticipation of a supply deficit. A handful of stocks in the industrial sector — most notably Naspers — complemented the gains in resources, leaving the all share up 0.72% at 58,294.9 points shortly after midday. Financial stocks and retailers were modestly higher for the most part, with Capitec hitting a record intraday high. Among the companies in focus, Group Five surged as much as 42% after the construction and engineering group said it had received an unsolicited R1.6bn offer from Greenbay Properties for its European division. I...
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