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JSE continues upward climb
Posted Tue, 04 Nov 2008

The JSE continued its upward climb while closing solid in the black for the sixth straight day on Tuesday after receiving a good boost from buoyant commodity prices while eyeing the outcome on the US elections.

The JSE's all share index jumped 2.43 percent and closed at at 21 649.580 points.

The platinum and gold mining indices rallied 7.17 percent and 3.29 percent respectively while resources soared 3.07 percent.

Industrials collected 2.64 percent, financials rose 0.63 percent while banks edged up 0.21 percent.

Among platinum producers, Anglo Platinum advanced 2.63 percent to 429 rand, Impala Platinum rallied 7.92 percent to 109 rand while Aquarius Platinum rocketed 10.09 percent to 24 rand.

Among gold counters, AngloGold Ashanti retreated two percent to 179.73 rand but Gold Fields climbed 55 cents to 65.80 rand.

Resources heavyweight, Anglo American jumped 3.73 percent to 253.10 rand while rival BHP Billiton soared 4.98 percent to 177 rand. Petrochemicals giant Sasol tumbled 4.24 percent to 282.50 rand on a slumping oil price.

Furniture retailer JD Group warned earlier that annual headline earnings per share(HEPS) would fall by between 47 percent and 57 percent. The group's stock price shed 20 cents to 27 rand.

Meanwhile industrial giant Barloworld earlier announced that annual HEPS from continuing operations were expected to be five percent to 15 percent lower year-on-year. The group's share price rose 1.28 percent to 58.75 rand.

Sugar producer Illovo also announced earlier that it expected interim HEPS to rise by as much as 35 percent and full year HEPS by as much as 25 percent. The group's share price surged 4.63 percent to 22.60 rand.

Among industrials, brewer SABMiller collected 2.60 percent to 158 rand while tobacco maker British American Tobacco added 2.14 percent to 274.75 rand.

Among banking stocks, Standard Bank retreated 1.29 percent to 77.98 rand, Absa tumbled 3.92 percent to 95.60 rand but FirstRand bucked the weaker trend, adding 12 cents to 14.28 rand.