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JSE ignores GDP
Posted Wed, 19 Aug 2009
The JSE edged up before close and ended in the black on Tuesday while ignoring better-than-expected growth domestic product data released earlier by Stats SA.
GDP growth dropped by –3.0 percent in the second quarter seasonally adjusted annualised in the second quarter, from –6.4 percent in the first quarter.
The JSE's all share gained 0.76 percent and closed at 24 255.880 points.
The platinum mining index collected 0.95 percent, resources lifted added 0.54 percent however the gold mining index shed 0.20 percent.
Banks jumped 2.72 percent, financials advanced 1.35 percent while industrials were up 0.69 percent.
Among platinum miners, Angloplat retreated 4.99 rand to 630.01 however Impala Platinum gained 1.79 percent to 202.05 rand.
Resources heavyweight, Anglo American closed flat at 241.50 rand while rival BHP Billiton inched up 10 cents to 199.35. Synthetics giant, Sasol jumped 2.25 percent to 286.55 rand.
Among gold counters, AngloGold Ashanti pulled back 1.27 percent to 290.50 rand, Gold Fields rose 0.79 percent to 96.51 while Harmony eked out 64 cents to 74.14 rand.
Meanwhile embattled junior gold miner, Pamodzi Gold advised that it has received a signed letter of commitment from a potential investor in the amount of R626-million, which is to be invested in the Pamodzi group by way of debt and equity. Trading in the company's shares was suspended in March at a level of 50 cents.
Rockwell Diamonds said that there has been stronger buying interest and attendance at diamond tenders has increased since June this year with the numbers of buyers again approaching 2008 levels. The group's share price inched up one cent to 42 cents.
The JSE Company on Tuesday reported a six percent increase in basic earnings per share from 202.8 cents to 215.6 cents for the six months ended June. This was on the back of a seven percent growth in revenue from operations from R508.8-million to R544.5-million. The group's share price closed flat at 58.50 rand.
Kumba Iron Ore rallied 5.25 percent to 230.50 rand, ArcelorMittal collected 2.48 percent to 115.50 rand while diversified miner African Rainbow jumped 3.8 percent to 143.25.
Among industrials, brewer SAB Miller gained 1.05 percent to 174.20 while British American Tobacco advanced 1.23 percent to 248.25 rand however Compagnie Richemont dropped 2.85 percent to 20.42 rand,
Paper producer, Sappi shot up 5.09 percent to 28.90.
Financial group, Santam soared 3.37 percent to 92 rand.
Among the banking stocks, Nedbank gained 2.36 percent to 108.30 rand, Standard Bank jumped 3.92 percent to 94 rand while Absa lifted 2.02 percent to 122 rand.
