* Benchmark blue-chip Top-40 index up 0.65 percent
* All-share index closes up 0.75 percent
JOHANNESBURG, April 26 (Reuters) – South African stocks rose
0.8 percent on Thursday with gold producers like AngloGold
Ashanti lifted by a rally in the price of bullion, but
gains were tempered by falls in this year’s top gainers.
The gold price – a key factor for Johannesburg’s
resource-heavy bourse – rebounded after steep losses on
Wednesday. The U.S. Federal Reserve has pledged to keep interest
rates steady, seen as a negative for the dollar and therefore
good for gold.
“I think a lot of traders and investors took this to mean
quantitative easing number three (will come) down the line.
Monetary stimulus is usually quite good for gold,” said Nick
Kunze head of trading at BJM Private Clients.
The benchmark blue-chip Top-40 index rose 0.75
percent to 30,247.51, while the broader All-Share index
closed up 0.65 percent higher at 34,251.43.
Leading the pack was Africa’s largest gold producer
AngloGold, which jumped 3.7 percent to 269.96 rand, and rival
Gold Fields gained 3.4 percent to 101.14 rand.
Smaller producer Harmony added 3.04 percent to
76.66 rand.
South Africa’s biggest retail bank, Absa was among
the day’s losers as it continued its decline, at 0.68 percent,
while and Shoprite fell 1.72 percent.
Continued…
