JSE firmer as gold shares and platinums find favour
The JSE opened firmer on Monday in subdued trade ahead of Human Rights Day on Tuesday on firmer Asian markets after the Dow closed weaker on Friday.
The market was supported by a strong opening from Naspers after its Chinese investment Tencent rose in Hong Kong trade. Naspers owns 34% of Tencent.
The Dow closed 0.10% lower at 20,914.62 points. The Shanghai Composite rose 0.10% and the Hang Seng added 0.63%. The Nikkei 225 is closed because of a public holiday.
The FTSE 110 closed at a record high in Friday, supporting sentiment among European markets with the Paris CAC 40 up 0.32%.
"Global markets have exhibited remarkably muted reaction to the US federal open market committee rate hike but in the sessions ahead a more realistic appraisal might well materialise impacting overall market sentiment," Momentum SP Reid analysts said.
Commodity prices were firmer with platinum adding 0.19% to $965/oz. Gold rose 0.40% to $1,233.86/oz.
Brent crude dropped 0.44% to $51.50 a barrel.
At 9.05am the all share was up 0.29% to 52,703.60 points and the blue-chip top 40 added 0.38%. Platinums added 0.86%, the gold index 0.78% and industrials 0.58%. Property was down 0.64%.
Among the miners, African Rainbow Minerals softened 1.82% to R103.
Remgro recovered 0.74% to R218.
Among platinums, Implats rose 1.81% to R44.33.
Standard Bank was up 0.63% to R160.89.
Sanlam shed 0.51% to R71.65.
Growthpoint dropped 0.33% to R27.31.
MTN added 0.53% to R128.98.
Naspers was up 1.78% to R2,257.38.