JSE at another high

Tue, 20 May 2008

The JSE rocketed to another record high before closing on Monday amid buoyant mining stocks and a positive opening on Wall Street.

This is the fourth day in a row the local bourse closed at a record high.

The JSE's all share index jumped 1.50 percent to close at a new record high of 33 191.800 points.

The platinum mining index soared 3.64 percent, resources rallied 2.28 percent and the gold mining index added 1.60 percent.

Industrials collected 1.04 percent but banks shed 0.22 percent and financials slipped 0.21 percent.

Platinum giant Anglo Platinum soared to a new record high of 1479.98 rand earlier today but pulled back slightly to close at 1460 rand, up 3.84 percent.

Resources heavyweight Anglo American shot up to a three-month high of 537.48 rand, up 3.76 percent but BHP Billiton withdrew 0.5 percent to 318.57 rand. Petrochemicals group Sasol gained 1.86 percent to 494 rand.

Among gold counters, Gold Fields added 2.18 percent to 106.80 rand, Harmony rocketed 4.26 percent to 97.99 rand but AngloGold Ashanti slipped 50 cents to 295.50 rand.

Mobile cell phone operator MTN surged 3.43 percent to 157.22 rand on on-going rumours of a takeover bid by India’s Bharti Mittal.

Netcare earlier reported diluted headline earnings per share (HEPS) of 23.1 cents for the six months ended March 2008 from 22.5 cents year-on-year. Group HEPS remained flat at 23.7 cents per share. The group’s stock price slumped 3.48 percent to 8.59 rand.

Raubex also reported an increase in HEPS of 116.2 percent to 180.1 cents for the year ended February. The road construction group’s stock price jumped 2.16 percent to 42.65 rand.

Meanwhile Lewis Group also reported earlier a 6.9 percent lift in HEPS to 689.8 cents for the full year to 31 March while on a diluted basis headline earnings were reported at 688.1 cents. The furniture retailer’s stock price rocketed 3.34 percent to 35.60 rand.

Famous Brands earlier reported a 33 percent rise in diluted HEPS to 141 cents for the year ended February 2008. A final dividend of 33 cents was declared. The group’s share price close unmoved at 15.80 rand.