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South African mining stocks boost JSE All Share index

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South Africa,Mining Sector,Stocks

Mining sector stocks in South Africa, including Exxaro Resources, African Rainbow Minerals, Merafe Resources, and Kumba Iron Ore, experienced gains, leading to a marginal advance in the JSE All Share index. However, platinum miners Impala Platinum Holdings and Northam Platinum saw a decline, while gold miners Sibanye Stillwater and Gold Fields also experienced a slight decrease. In the US, consumer price inflation rose more than expected in March, causing the yield on benchmark government bonds to rise. The US dollar, euro, and British pound all saw slight decreases against the South African rand.

Exxaro Resources, African Rainbow Minerals, Merafe Resources and Kumba Iron Ore surged 6.1%, 4.4%, 2.2% and 1.9%, respectively. On the flipside, platinum miners Impala Platinum Holdings and Northam Platinum edged down 4.2% and 2.0%, respectively. Gold miners Sibanye Stillwater and Gold Fields declined 1.0% and 0.8%, respectively. The JSE All Share index marginally advanced to close at 75,520.38. . In the US, the consumer price inflation rose more than expected in March.

The UK market finished firmer yesterday, helped by gains in Tesco. Tesco gained 3.3%, after the company reported an increase in in annual profits and volumes, with surging pre-tax profits. Moreover, the company anticipates a further increase in profits, citing early indications of improving consumer sentiment. Peer J Sainsbury added 0.9%.

Food companies Conagra Brands, General Mills and Mondelez International declined 2.2%, 1.9% and 1.7%, respectively. In Japan, e-commerce company Mercari has declined 2.8% Electric services company, Osaka Gas Co. has added 3.6%.

 

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