Miners lead JSE higher
Hopes of the US and China ending their trade war this week lifted gold and platinum miner Sibanye 6% and coal miner Exxaro 4%
The JSE joined the global relief rally on Monday morning, with miners doing particularly well on hopes trade negotiations under way between the US and China will reach an amicable conclusion. The resources 10 index gained 2.3% to 41,214 points, but the Satrix Resi exchange-traded fund, which tracks the resources 10 index, remained untraded at R40.98 at 9.50am. Of the JSE's 10 biggest resources companies, coal miner Exxaro fared best, gaining 3.7% to R137.88. Miners were boosted by a rise international oil prices. Brent gained 1.2% to $58/barrel and West Texas Intermediate also rose 1.2% to $48.80/barrel. Platinum rose 1.1% to $827.3/oz and gold 0.6% to $1,291.95/oz. The resources 10 index includes paper and packaging group Mondi, which was its second-best performer on Monday morning with a 3.5% rise to R318.65. Sibanye-Stillwater, whose R25bn market capitalisation makes it too small for inclusion in the resources 10 index, was the all share index's star performer, with a 6.24% rise ...
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