JSE climbs on Friday as resources and Naspers push higher
Naspers gained 0.78%, near its best level since November 2017, even though Tencent fell in Hong Kong
The JSE rose on Friday morning, led by a recovery in the resources index despite the gold price edging towards its worst level since December 2018. Gold, which has lost ground this week, was marginally lower at $1,269.71/oz as the dollar strengthened, while platinum gained 0.43% to $853.47. The JSE’s resource 10 index was 1.48% higher, pushing the all share index 0.85% up to 59,244.9 points. The blue-chip top 40 index rose 0.94%. Sibanye led gains among mining stocks, adding 2.48% to R12.82. Assore, AngloGold Ashanti, African Rainbow Minerals, Northam Platinum and Anglo American also rose. JSE-heavyweight Naspers gained 0.78% to R3,719.77 — close to its best level since November 2017 — even though its main investment, Tencent, fell in Hong Kong. MTN, which announced on Friday that Mcebisi Jonas would take over as chair from Phuthuma Nhleko in December, rose the most among the top 40 stocks, gaining 2.53% to R106.12. The network operator also said it would create an international ad...
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.