Online Reporter
The JSE hit a new record on Monday morning, briefly trading at 107 914 points before moderating to 107 555 by mid-morning, lifted largely by a rally in gold shares.
Gold producers led the morning’s gains, with DRDGold climbing 4,93 percent, Sibanye up 4,73 percent and Harmony 4,48 percent higher.
Retailer Boxer was the standout non-resource stock, rising 3,97 percent after reporting a near 14 percvent increase in turnover for the 26 weeks to the end of August.
Among the small caps, Purple Group — majority owner of trading platform EasyEquities — gained more than 13 percent by 11:30, hitting a 52-week high at R2.64.
Investor and trader Simon Brown, host of the MoneywebNOW podcast, says the momentum comes from resources, particularly gold shares. “This is a resource rally and mostly a gold rally. The Top 40 broke through 100 000 today for the first time ever,” he says. Brown notes that gold has had a remarkable run. “It has had a spectacular year.” — Moneyweb
