JSE closed firmer, following a positive external economic data

The JSE on Friday closed firmer abreast with the other global markets poised by calming trade tensions and positive economic figures in the Asian regioin

Asia released their GDP data which discounted expectations, remained unchanged from the previous recording of 6%. The world second largest economy China Industrial production pencilled 6.9% upsurge, a noticeable improvement from last year figures at the same year-on-year of 5.9%. Meanwhile the UK retail sales fell by 0.6% after major UK retailers cited difficult trading environment

With the first phase of the trade agreements between Beijing and Washington DC already penned, the Rand lost some ground late yesterday on Thursday due to the MPC announcement of the 25 basis points lending rates cut, further losses were recorded in the afternoon session succumbing to the stronger dollar. ZAR was trading 0.26% softer at R14.44 to the greenback at 5pm in Johannesburg

One of the biggest winners on the local bourse was Richemont  rallied 5.82% to close at R121.25 after releasing its trading figures for the 3rd quarter which showed improvements in trading volumes across most the geographical area. Anglo American surged 3.29% to close at R424.17, BHP closes 3% firmer to close at R351.09, the widely diversified Naspers at R2510.51 a rise of 2.45%. Mr Price lost 1.91% to close at R188.73 after releasing a relatively their trading figures.

Ascendis Health had to battle the long haul of negative trades closing the day 5.8% weaker at R1.30. Financial index lost some strides following the softer rand, ABSA Group which shed 3.32% to close at R139.50, Nedbank which lost 2.85% to close at R207.54, and Standard Bank  which also recorded as one of the losers amongst the blue chips closed at R164.43 after losing 2.39%., while Woolworths closed 2.35% lower at R49.42.

Sectoral

Personal Goods sector was the biggest gainer on a sectoral scale, recording an increase of 66.62 points an upsurge of 5.82% to stand at 1221.08 during close, sniffing on their necks it was the country biggest sectoral exporters Industrial metals and mining with an increase of 5.24% after dragging in 1066.25 points. Consumer goods closed 3.80% firmer at 63057 points, Mining 2.66% stronger at 46618 points and to complete the top five best performing sectors it’s Basic Materials with 36601 points closing 2.25% firmer

The JSE All-Share index closed 1.35% higher while the JSE Top-40 index closed 1.48% stronger,the Financials index s laboured a bad day of trade to close at 1% weaker meanwhile, Resources were 2.26% winners at close and Industrials gained 1.87%.
Ounce of Gold trading at $1557.8 0.63% up, Platinum was at $1026.99 2.28% up, and Palladium jumped 6.9% higher to trade at $2475.00 per ounce.Brent crude was tradingr at $64.89/barrel  0.48% firmer at close in Johannesburg
NB!!! All eyes will be on companies who will be holding AGM in the coming, Phumelela (21/1/20), INDEQTY,Purple and AYO (all on the 22/1/20), RDI and AH-VEST on the 23/1/20 and Group 5 on the 24/1/20.

Reported by Mmamoloko E Boshomane
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