The Johannesburg Stock Exchange (JSE) closed firmer on Thursday, after the U.S. Federal Reserve increased interest rates by 25 basis points.

SA stocks
SA stocks

Gold miners were riding the wave of a stronger rand as a result of a weakened dollar. The rand firmed to a 16-month best level of R12.71 to the U.S. dollar.

The JSE all share was up 2.03 percent at 52,748.97 points and the blue-chip top 40 added 1.94 percent.

Gold miners gleamed with a 7.43 percent increase, while platinum stocks were up 4.78 percent and resources 20 climbed 3.1 percent.

Diversified miners were led by Anglo American, which added 6.53 percent to R203.47. Kumba Iron Ore was up 10.41 percent to R216.

Rand hedge stocks succumbed to a stronger rand. British American Tobacco led their losses, down 0.62 percent to R809.99.

The big gold miners were up more than 7 percent, led by Harmony Gold Mine, which gained 5.16 percent to R29.95, AngloGold Ashanti was up 7.23 percent to R140.2 and Gold Fields gained 9.95 percent to R44.55. Sibanye added 8.09 percent to R26.86.

The four major banks were all up, led by Standard bank. It was up 2.99 percent to R161.99.

While other major financials gained, Old Mutual tumbled 0.23 percent at R35.4. Sanlam was up 3.32 percent to R72.15. Enditem

Source: Stanley Karombo, Xinhua/NewsGhana.com.gh

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