S. African stocks close higher on Tuesday

Added On August 23, 2017

by Stanley Karombo

JOHANNESBURG, Aug. 22 (Xinhua) -- Share prices on the Johannesburg Stock Exchange (JSE) closed firmer assisted by positive results of one of the five biggest companies, BHP, on Tuesday.

The JSE climbed higher for the second consecutive session on Tuesday, with resources sector gaining 1.47 percent higher after Monday's strong run.

The all-share index was 1.05 percent higher at 56,033 points, while the Top 40 index gained 1.14 percent to 49,588 points at the close of the session. The industrial index lifted 1.21 percent, with Naspers at a new all-time high. The financial index was 0.84 percent stronger.

The Gold index dropped 2.92 percent on the back of more profit taking. The gold price was virtually unchanged at 1,286.98 U.S. dollars an ounce but the South Africa's rand traded at R13.21 to the dollar compared to Monday's close of R13.15.

BHP was the main driver in the resources sector, gaining 2.5 percent to R237.25 after announcing that its headline earnings for the year surged to 5.89 billion dollars after it made a headline loss of 6.38 billion dollars last year.

The other commodity giants on the JSE were also higher, but their gains were far more modest. Anglo American traded only 1.05 percent higher, while Glencore was 0.79 percent stronger at R58.6.

Platinum shares were down after the platinum price lost almost 1 percent to 975 dollars an ounce. Impala Platinum traded 4.67 percent lower at R37.37, but Anglo American Platinum lost only 0.2 percent to R344.97.

Retail shares continued to be in high demand. Shoprite was one of the busiest shares in terms of value traded and gained 2.44 percent to R205.9. There was also the great demand for Mr Price which traded 1.12 percent stronger at R180.

AngloGold Ashanti dropped 6.58 percent to R122.2 and Sibanye Gold lost 1.66 percent to R18.9.