Anchor Capital said that South African markets closed in the green yesterday, led by gains in mining and retail sector stocks, while the rand made gains against the US dollar.
Diversified miners, Exxaro Resources and African Rainbow Minerals climbed 4.1% and 1.1%, respectively. Retailers, Mr Price Group, Clicks Group, Shoprite Holdings and Pick ‘n Pay Stores advanced 3.3%, 2.5%, 1.5% and 1.4%, respectively.
Food companies, Astral Foods and Tiger Brands increased 3.3% and 1.9%, respectively.
Property developers, Vukile Property Fund, Sirius Real Estate, Equites Property Fund and Redefine Properties gained 2.6%, 1.5%, 1.4% and 1.2%, respectively.
Lenders, Absa Group, Nedbank Group and FirstRand rose 1.9%, 1.0% and 0.9%, respectively.
The JSE All Share index advanced 0.3% to close at 84,447.75.
CURRENCIES
Yesterday, the South African rand strengthened against the US dollar.
In the US, the consumer confidence index declined more than expected in January.
Meanwhile, the housing price index rose more than expected in November. Moreover, the Richmond Fed manufacturing index improved more than expected in January.
The yield on benchmark bonds fell yesterday. The yield on the SA 10-year generic bond declined to 10.35%, while that for SA 20-year generic bond fell to 11.24%.
At 05:30, the US dollar was trading 0.1% higher against the South African rand at R18.6945, while the euro is trading 0.1% higher at R19.5088.
At 05:30, the British pound has gained 0.1% against the South African rand to trade at R23.2698.
Yesterday, the euro declined against most of the major currencies.
At 05:30, the euro marginally advanced against the US dollar to trade at $1.0435, while it has slightly gained against the British pound to trade at GBP0.8385.
COMMODITIES
At 05:30, Brent prices fell 0.2% to trade at $77.30/bl.
Yesterday, Brent prices rose 0.5% to settle at $77.49/bl, after the White House reaffirmed US President Donald Trump's plans to impose tariffs on Canadian and Mexican imports this week. Meanwhile, the American Petroleum Institute (API) reported that crude oil inventories rose by 2.86mn bls in the week ended 24 January 2025.
At 05:30 today, gold prices marginally advanced to trade at $2,763.10/oz. Yesterday, gold gained 0.8% to close at $2,762.72/oz, amid rising uncertainties over US President Donald Trump's proposed tariffs.
Yesterday, copper declined 1.2% to close at $8,861.31/mt. Aluminium closed marginally lower at $2,607.08/mt.
BUSINESS REPORT