The JSE all share ended 2.7% higher for the week (30 396.34), gaining 416 points on Friday. Resources were only 0.64% higher for the 5 days’ trade. On Friday, BHP Billiton gained 4.0% (R249.60) and Anglo American 2.7% (R487.45).
The Efficient Group says that the gold mining index shed 4.8% in the five days, as the yellow metal price dropped just over 2% in the same timeframe. Harmony retreated 1.6% (R92.10) and Gold Fields was 0.2% lower (R106.54) for Friday. The Platinum mining index moved sideways – 0.6% higher for the week. Anglo Platinum improved 0.8% on Friday though Impala Platinum declined 2.8% (R325.50).
Financials had a strong performance last week, up 2.6% with Banks collecting nearly 3%. Nedbank gained 2.5% (R124.03) on Friday and Standard Bank was 1.4% (R93.51) stronger. Capitec surged 9.6% (R39) after announcing new strategic initiatives. Industrials ended 2.2% stronger for the week with Construction 0.5% stronger.
The gold price was quoted at $912.60/oz earlier, while platinum is trading above the $2,000-mark at $2,015/oz earlier. The oil price is almost $1 less expensive than last Monday, quoted at $103.23 a barrel earlier.
The rand enjoyed support last week, appreciating against the U.S. dollar; from R8.10 on Monday to R7.84 earlier. The local currency’s performance is also slightly stronger against the U.K. pound (R15.62) and the Euro (12.35). The R153 benchmark bond gained a stellar 20 points (9.5%) supported by a stronger rand.