The JSE opened firmer on Monday on stronger Asian markets with resources leading the pack as gold and banking stocks softened.
Although it lost 1.26% on Friday, the banking index was still up 1.24% last week, following the Competition Commission’s planned prosecution of 16 local and international banks.
JSE volumes on Monday were expected to be on the low side due to the US Presidents’ Day holiday. Volumes on Friday ended at R17bn.
The Dow Jones ended flat on Friday.
"There was still no evidence of reversal in the short term in US markets despite a number of indices indicating overbought positions," Momentum SP Reid analysts said.
On Monday the Nikkei was up 0.09% and the Hang Seng gained 0.63%.
The gold price was flat at $1,235/oz and platinum held above the crucial $1,000 level at $1,002/oz.
At 9.35am the all share was 0.45% higher at 52,456.60 points and the blue-chip top 40 rose 0.64%. Resources added 0.75%, industrials 0.70% and food and drug retailers 0.65%. The gold index shed 3.58% and banks were down 0.70%.
Among the global miners, Anglo American rose 1.46% to R220.38 and BHP Billiton added 1.64% to R229.15.
Sasol lifted 0.96% to R378.10. Brent crude was 0.61% higher at $56.03 a barrel in early morning trade.
Among gold stocks, Sibanye lost 4.36% to R27.86 and Gold Fields was down 3.42% to R42.65.
Barclays Africa fell 0.94% to R159.38, Nedbank was down 1% to R241.76 and Standard Bank dropped 0.61% to R145.45.
Steinhoff was 1.90% higher at R68.07. Shoprite rose 1.68% to R175.95.
Comair was 1.69% lower at R5.80.
Clover Industries lost 2.36% to R18.63.
Brait was 0.36% up at R75.95. UK retail sales growth slumped to an annual 1.5% in January, the worst rate of growth in more than two years, it was reported on Friday. Brait has exposure to the UK market through New Look. Brait has dropped 13% so far this year from a decline of 47% in 2016.
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Although it lost 1.26% on Friday, the banking index was still up 1.24% last week, following the Competition Commission’s planned prosecution of 16 local and international banks.
JSE volumes on Monday were expected to be on the low side due to the US Presidents’ Day holiday. Volumes on Friday ended at R17bn.
The Dow Jones ended flat on Friday.
"There was still no evidence of reversal in the short term in US markets despite a number of indices indicating overbought positions," Momentum SP Reid analysts said.
On Monday the Nikkei was up 0.09% and the Hang Seng gained 0.63%.
The gold price was flat at $1,235/oz and platinum held above the crucial $1,000 level at $1,002/oz.
At 9.35am the all share was 0.45% higher at 52,456.60 points and the blue-chip top 40 rose 0.64%. Resources added 0.75%, industrials 0.70% and food and drug retailers 0.65%. The gold index shed 3.58% and banks were down 0.70%.
Among the global miners, Anglo American rose 1.46% to R220.38 and BHP Billiton added 1.64% to R229.15.
Sasol lifted 0.96% to R378.10. Brent crude was 0.61% higher at $56.03 a barrel in early morning trade.
Among gold stocks, Sibanye lost 4.36% to R27.86 and Gold Fields was down 3.42% to R42.65.
Barclays Africa fell 0.94% to R159.38, Nedbank was down 1% to R241.76 and Standard Bank dropped 0.61% to R145.45.
Steinhoff was 1.90% higher at R68.07. Shoprite rose 1.68% to R175.95.
Comair was 1.69% lower at R5.80.
Clover Industries lost 2.36% to R18.63.
Brait was 0.36% up at R75.95. UK retail sales growth slumped to an annual 1.5% in January, the worst rate of growth in more than two years, it was reported on Friday. Brait has exposure to the UK market through New Look. Brait has dropped 13% so far this year from a decline of 47% in 2016.
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