The JSE closes higher on Wednesday
Xinhua, July 14, 2016 Adjust font size:
The JSE closes firmer, as sentiment towards emerging markets remain positive.
Shares on the Johannesburg Stock Exchange (JSE) closed of on Wednesday higher, with industrials offsetting losses in gold mining and financial shares.
The JSE all share rallied 0.51 percent to 52814.88 points on Wednesday, with 0.81 percent gains in industrial shares.
The blue-chip top 40 added 0.50 percent. The platinum index rose 2.29% and resources firmed 0.28 percent. The gold mining index lost 0.22 percent. Banks shed 0.15 percent and financials were 0.12 percent weaker.
The gold had edged up 0.45 percent to 1338.82 U.S.dollars an ounce, and the platinum index was 0.70 percent up at 1094.80 U.S.dollars an ounce.
The sentiment toward emerging markets remain positive.
The South Africa rand was trading at R14.43 to the US dollar, R19.02 to the British pound and R16.04 to the euro.
Financial markets in emerging markets had sailed through recent headwinds stemming from a continued depreciation of the Chinese renminbi (yuan) and the UK's vote to leave the EU, says Capital Economics in a note in the morning of Wednesday.
"And the rally may not yet be over, given that one consequence of Brexit looks set to be looser global monetary conditions," Capital Economics says.
At close of session on Wednesday gainers included Anglo American firmed 1.05 percent to R155.34. Glencore rose 1.79 percent to R3580.
Arcelor Mittal jumped 3.61 percent to R8.90. Among the rand-hedges SAB Miller was 1.31 percent higher at R84128.
Losing 9.92 percent to R10.80 was DRD Gold. Assore slid 5.47 percent to R181.50. Endit