Bullish financial sector continues to buoy Johannesburg bourse

Source: Xinhua| 2018-01-24 00:20:22|Editor: huaxia
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JOHANNESBURG, Jan. 23 (Xinhua) -- The Johannesburg Stock Exchange (JSE) continued to rally on Tuesday, buoyed by a bullish financial sector.

The South African rand traded at R12.09 at the close of the market, having firmed significantly against a weaker dollar following a U.S. government shutdown.

The JSE All Share index gained 0.68 percent to 61,475.44 while the blue-chip Top 40 gained 0.66 percent. The market was driven by a 1.78 percent rally in the financial index.

The industrial index also managed to gain 1.16 percent as Naspers was lifted by a firmer Tencent price in Hong Kong. Naspers has a major stake in Tencent.

Among the shares on the JSE, FirstRand was up 2.87 percent to R68.41, Standard Bank 1.92 percent to R203.75, Barclays Africa 3.38 percent to R189.18, and Nedbank 2.03 percent to R270.86.

Insurance stocks also fared well, with Sanlam gaining 3.33 percent to R90.2, Rand Merchant Holdings 2.09 percent to R47.33, and MMI Holdings 4.48 percent to R23.3.

Mr Price was up 4.67 percent to R270, Truworths 2.65 percent to R96.77, and TFG 3.45 percent to R193.55. Shoprite was up 4.12 percent to a record 250 and Spar 2.39 percent to R204.78.

Vodacom was up 2.76 percent to R150.99, MTN Group 2.2 percent to R139.16, and EOH 4.11 percent to R63.40.

Imperial Holdings was up 3.6 percent to a record R272.46 and Barloworld 2.03 percent to a multi-year high of R170.09.

Investment group Remgro was up 2.3 percent to R238.6 and PSG Group 3.15 percent to R262.

Naspers was up 0.5 percent to R3,775.

Anglo American slipped 3.22 percent to R291.32, Kumba Iron Ore 4.38 percent to R358, and Exxaro 5.2 percent to R148.99. Enditem

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