JSE rises above 60,000 points again on positive world markets
The JSE rose on Friday, with the all share once again surpassing the 60,000-point mark again, thanks to large-cap resource and industrial stocks.
Resource shares drew support from higher commodity prices, as the dollar weakened against a basket of currencies, pushing counters such as Anglo American to its highest point since early 2012.
The gold price reached its best level since September 2017, at $1,330.06 an ounce, while platinum was just shy of $1,000 an ounce, also last seen in September.
Property stocks were relatively stable after coming under heavy selling pressure on Thursday amid speculation that they were a target of a corporate governance report, which is apparently due to be released by US firm Viceroy Research.
In December, the research group published a report that contributed to a plunge in the value of Steinhoff shares.
"Wow, what a week! Aspen started on the back foot thanks to the Viceroy rumours, which then spread to the rest of the market. Basically, any stock that has been down over the past two days has been caught up in the Viceroy rumour mill," Vestact Asset Management analysts said in an e-mail note.
"It seems a surefire way to tank a stock price is to mention that company’s name and Viceroy in the same sentence."
The all share was up 0.69% to 60,016.60 points at lunchtime, in line with positive sentiment on world markets.
Europe’s leading bourses were positive at midday, though a stronger euro and British pound kept gains in check. Earlier, in Asia, Hong Kong’s Hang Seng closed 0.94% higher.
BHP was up 1.2% to R274.86, Anglo American 0.98% to R296.64, Sasol 1.27% to R444.05, and Gold Fields 1.25% to R54.26.
Shares in Naspers, which is the biggest company by market cap in the all share, gained 2.33% to R3,644.90.
Aspen continued to be volatile, dropping 3.8% to R259, after gaining 11% on Thursday.
Nedbank gained 1.2% to R252.21 and investment group PSG 1.54% to R253.85.
Steinhoff shed 4.3% to R6.46, while Mr Price gained 1.79% to R243.97.
Nepi Rockcastle was up 2.99% to R184.15.