Stronger gold miners, resources lead gains on JSE

Johannesburg-SA (Apr 2)  The JSE All Share closed 0.63% higher on Wednesday, with 2.37% gains in gold miners and an 1.83% rise in resources lifting the local bourse.

The rand was trading at R10.61 to the US dollar, R17.61 to the British pound and R14.60 to the euro at 5pm.

Gold had risen 0.96% to sell at $1291.60 an ounce as investors believed low prices would increase physical demand from China.

International markets

In Asia, the Japanese Nikkei closed 1.04% higher as positive manufacturing data from the US boosted investor optimism about global economic growth. In China, the Shanghai index rose 0.56% led by gains in property shares.

European markets were higher by end of day SA time, with the DAX climbing 0.14%, the CAC40 rising 0.15% and the FTSE 100 gaining 0.25%. US markets were also trading in the black at this time; the Dow Jones was up 0.15%, the S&P 500 advancing 0.21% and the Nasdaq gaining 0.17%. Investors were cheered by the release of positive US payrolls data and news of increased factory orders in February.

Share price news

Amongst the top movers upwards on Wednesday was Aveng (AEG), whose shares climbed 6.72% to R24.30 after 683 deals traded 915,517 shares. Telkom SA (TKG) gained 5.49%, after investors traded 3,773,765 shares in 2,697 deals and lifted the share price to R36.32.

Metmar (MML) fell to R1.27 after 9 deals exchanged 254,000 shares, sending the share price down 9.93%. The company released a Trading Statement this afternoon. After investors traded 759,438 shares in 2,159 deals, Mr Price Group (MPC) slid 4.39% to R153.28 a share.

Source: sharenet.za