OHANNESBURG – The JSE rallied past the 52‚000-point mark on Thursday‚ with investors continuing to take up the bargains that were the result of losses after last week’s Brexit vote.
The all-share index was up 1.29% to 51‚558.60 points in the early afternoon‚ with the top-40 index having gained 1.32%.
The resource sector led the broad-based rally that has now cut the post-Brexit vote losses in the all-share to 2% from just more than 6%.
“The immediate high volatility impact of the Brexit decision has faded and increasingly investors will look towards the geopolitical and economic considerations of the decision‚” Momentum SP Reid Securities’ analysts wrote in a note.
The calmer market allowed investors to accumulate resources and platinum shares‚ with their respective indices gaining 1.61% and 2.91%‚ while banks were up 1.67%.
Europe’s leading markets were moderately higher at midday‚ with the UK’s FTSE 100 having added 0.48%‚ following broadly positive closes in Asia‚ where Hong Kong’s Hang Seng settled 1.75% higher.
Among individual shares on the local market‚ Anglo American (AGL) leapt 5.07% to R145.57‚ with BHP Billiton (BIL) gaining 3.19% to R186.77.
Kumba Iron Ore (KIO) jumped 10% to R114.65 and Exxaro Resources (EXX) gained 6.37% to R67.75.
Anglo American Platinum (AMS) was up 3.97% to R373.96‚ with Lonmin (LON) picking up 4.66% to R37.99.
Imperial (IPL) was up 4.39% to R152.65 and Barloworld (BAW) gained 5.64% to R73.60.
Standard Bank (SBK) climbed 1.92% to R128.93‚ with Barclays (BGA) garnering 1.85% to R144.85.
Old Mutual (OML) was up 1.98% at R38.58‚ with Sanlam (SLM) regaining 2.72% to R60.90.
Truworths (TRU) added 4.09% to R87.52 and The Foschini Group (TFG) recovered 3.95% to R140.
Steinhoff (SNH) recouped 2.87% to R84.68 and Naspers (NPN) picked up 2.14% to R2‚237.82