Brighter global mood lifts JSE
[caption id="attachment_157153" align="aligncenter" width="300"] Johannesburg Stock Exchange
File Picture: Katherine Muick-Mere[/caption]
The positive momentum in global markets triggered by strong US jobs data on Friday boosted the JSE on Monday‚ with the all share index rising 0.82% to 51‚696.30 points by lunchtime as investors accumulated recently beaten down shares.
The upbeat US nonfarm payrolls report has helped improve the global market mood‚ which was undermined by the Brexit vote late in June. “There is a lot more thought-through behaviour now in the markets than the initial reaction to Brexit that was marked by panic‚” said Nilan Morar‚ head of trading at GT Private Broking.
The US economy added 287‚000 jobs in June‚ beating market estimates which ranged from 165‚000 to 175‚000.
Europe’s leading markets were firmer at midday‚ taking their lead from Asia‚ where Japan’s Nikkei 225 settled a mighty 4% higher.
US stock futures suggested another positive session on Wall Street‚ after leading stock indices there finished more than 1% higher on Friday.
This week also marks the start of the US earnings sessions for the second quarter of 2016.
Among individual shares‚ Anglo American jumped 6.06% to R148.59‚ with Glencore picking up 5.11% to R32.90
Kumba Iron Ore added 4.49% to R123.30 and Exxaro Resources gained 5.55% to R75.30.
Transport and logistics group Imperial gained 2.73% to R148.44 and Barloworld firmed 4.1% to R79.
AngloGold Ashanti was up 1.78% to R303.77 and Harmony rose 1.77% to R63.10.
Nedbank regained 1.75% to R187 and Standard Bank gained 1.97% to R126.54.
Sanlam recovered 2.18% to R59.88 while The Foschini Group gained 2.85% to R140.37.
TMG Digital/BDlive
