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Why the JSE closed 0.74 percent higher yesterday

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What: The JSE traded and closed 0.74 percent in positive territory yesterday. The total value traded was 18.8billion rands. The top winners of the day included Anglogold (JSE Code: ANG) up 5.5 percent, Reinet (JSE Code: REI) up 4.3 percent, First rand (JSE Code: FSR) up 3.1 percent, B-Africa (JSE Code: BGA) up 3 percent and Amplats (JSE Code: AMS) up 2.9 percent.  The top losers of the day included Aspen (JSE Code: APN) down2.3 percent, Growth point down (JSE Code: GRT) 1.3 percent, Kumba (JSE Code: KIO) down 1.2 percent Shoprite (JSE Code: SHP) down 1.2 percent and Naspers (JSE Code: NPN) down 1.1 percent.

 

Why: the positive trading momentum in the resources sector lifted the market with resources shares being among the top winners of the day. Banks also performed well yesterday with most of the banks being among the top winners of the day. The major indices on the JSE ended in positive territory as illustrated on figure 1.

Figure 1: JSE Indices, Tuesday January 27th 2015

Index Value Move (%)   Time*
All Share 50 711 +373 (0.7%) 1715 27 Jan
Fin & Ind 68 092 +389 (0.6%) 1715 27 Jan
Industrial 63 702 +161 (0.3%) 1715 27 Jan
Gold 1 486 +84 (6.0%) 1715 27 Jan
Top 40 44 532 +334 (0.8%) 1715 27 Jan

 

Globally, Wall Street traded lower on weak earnings from Microsoft and Caterpillar. The Dow traded in the red by -1.51%, while the S&P 500 traded -1.14% lower, and NASDAQ traded -1.56% in the red. Japans Nikkei rebounded from previous losses to close higher after European markets closed higher in previous sessions in spite of Greek elections. The Hang Seng closed in the red by -0.41%, while the Nikkei gained +1.72%. European indices traded lower as concerns over Greece resurfaced, while corporate earnings on Siemens and Philips were weak. The DAX traded lower by -1.60%, CAC 40 down by -1.35% and the FTSE 100 traded -0.96% lower. At local close Oil (Brent) traded higher by +0.35% at $48.33 while Gold traded higher by +0.53% at $1286.20. The dollar traded 1.14% weaker against the EURO at EUR/USD $1.1366. On the local front the All Share index closed higher by +0.74% and the rand traded 0.82% weaker against the dollar at R/USD 11.5570.

Investors will continue to cautiously trade on the JSE this morning as they continue to digest news from Europe on Greece Elections and the EU quantitative easing program.

 

For more information contact: info@atudandassociates.co.za

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