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S. African stocks firmer on Monday

Xinhua, February 14, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) extended gains on Monday, taking its cue from higher world markets after U.S. President Donald Trump promised to call his South African counterpart, President Jacob Zuma.

The all share index was up 0.51 percent to 52,956.71 points at close of session, its best level in just more than a week, boosted mainly by resources and financial shares.

The resources market drew support from higher industrial metal prices, notably copper, which cracked the 6,000 U.S. dollars per tonne barrier for the first time since 2015.

Among major commodities, the spot price of gold shed 0.93 percent to 1221.99 U.S. dollars an ounce while that of platinum lost 1.15 percent to 995.73 U.S. dollars an ounce.

Among diversified miners, Anglo American gained 2.8 percent to R231.73, Glencore rose 2.22 percent to 54.9 and BHP Billiton was 0.55 percent firmer to R231.04.

Rand hedge stocks were mixed, with British American Tobacco shedding 0.62 percent to R834.7 while Richemont gained 0.06 percent to R100.61.

Harmony gained 0.22 percent to R36.23, Glencore was up 1.94 percent to R54.75.

Impala Platinum gained 2.63 percent to R54.51.

Insurer Sanlam gained 2.73 percent to R66.59 with MMI Holdings gaining 3.73 percent to R25.49. Endit