The JSE all-share index is up two thirds of a percent in current trade, with industrials being the largest gainers up 1%, and the resource index lagging and relatively flat for the day.
In company news; ArcelorMittal announced on Friday that its Chief Financial Officer Matthias Wellhausen would be leaving the company as of the 15th of March. Concerns for the move were echoed in the share price as it dropped to new lows at R21.32.
Northam Platinum continues to engage with the National Union of Mineworkers with strikes that commenced last week Tuesday. With concerns around security of employees and company property, operations have been officially suspended since Friday.
In currencies trade today the Rand has weakened against the majors trading at R11.63 to the Dollar, R13.49 to the Euro and R17.63 to the British Pound. In commodities Gold is trading at $1,277/oz., Platinum at $1,265/oz., and Brent Crude at $49.95/barrel.
Chart of the day
The chart of the day is Harmony Gold, with the company noting its first fatality free quarter as increased safety measures and a more hands on approach with managers conducting regular underground operation visits leading to their enhanced safety records.
The share price of Harmony has mounted a notable turnaround from its lows at 1771c to a 5-month high at 3412c, nearing a crucial resistance at 3538c, having broken above the 200day moving average, indicative of a share that is now in an upward trend.
Harmony Gold Mining Co Ltd
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