JSE ends on all time high

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Cape Town – Major indices on the JSE reached fresh all time highs on Tuesday, as the local bourse took a leaf from the earlier rally in Asian stocks.

The All-Share index futures reached a new high of 54 689 points, while the broader All-Share index reached a new high of 60 589.77 points.

Major movers higher included Mr Price [JSE:MRP] which jumped 8.61% on the back of a trading statement which was released this morning. The statement indicated the retailer was expecting headline earnings per share and earnings per share for the 26 weeks ended September 30 to increase by up to between 20% and 25%. 

Sasol [JSE:SOL] firmed on the back of higher Brent Crude prices and a weaker rand, which saw its stock gain 2.67%.

Naspers [JSE:NPN] continued its strong rally, closing up 2.57%. This was supported by Tencent Holdings [HKG:0700] which closed up 3.71% on the Hang Seng on Tuesday.

PPC Ltd [JSE:PPC] had a decent run on the back of a positive trading statement which indicated it expecting increases in headline earnings per share to be up by between 30% and 40%, and basic earnings per share to increase by 45% and 60%. The share closed at R7.22, up 1.40% on the day.

On the losers side, EOH Holdings [JSE:EOH] and Brait [JSE:BAT] traded under pressure to eventually close the day down 3.91% and 4.17% respectively. Sun International [JSE:SUI] and Sappi [JSE:SAP] also faced headwinds, as they closed 2.85% and 3.07% weaker respectively.

The JSE Top-40 index closed 0.50% firmer, while the JSE All-Share index gained 0.35%. The Industrials index firmed by 0.77% and the Resources index gained 0.18%. The Financials index, meanwhile, came under pressure and shed 0.26%.

Precious metals 

Gold was softer in Tuesday’s session and, when the JSE closed, it was trading at $1 275.91 per ounce.

However some of the gold miners on the JSE had a decent run, as the rand price of the precious metal increased due to the weaker local currency.

AngloGold Ashanti [JSE:ANG] and Gold Fields [JSE:GFI] firmed by 3.59% and 1.45% respectively. But Harmony Gold [JSE:HAR] closed 0.32% weaker. 

Platinum traded weaker reaching an intra-day low of $920.48/Oz. This put platinum miners on the JSE under pressure with Anglo American Platinum [JSE:AMS] giving up some of Monday’s gains to close the day down 2.39%. Impala Platinum [JSE:IMP] shed 1.94%.

Palladium tried to rally during early trade, but subsequently lost momentum to reach an intra-day low of $995.03/Oz.

Brent Crude, meanwhile, jumped above $64 per barrel to peak at an intra-day high of $64.65. The sentiment around Brent Crude is increasingly bearish as both OPEC and non-OPEC members have come out in support of extending production cuts. When the JSE closed Brent Crude was recorded at $63.71 per barrel.

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