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AF: JSE boosted by metals
 
The JSE closed firmly in the black on Wednesday amid buoyant metals counters while a positive opening on Wall Street contributed to the gains.

The JSE's all share index collected 1.14 percent and closed at 27 683.650 points.

The platinum mining index jumped 2.49 percent, resources lifted 2.15 percent while the gold mining index gained 1.49 percent.

Banks and financials climbed 0.51 percent and 0.87 percent respectively while industrials rose 0.26 percent.

Among platinum miners, Angloplat lifted 5.40 rand to 692.90 rand, Impala Platinum rallied 3.54 percent to 193.10 rand while Lonmin jumped 2.88 percent to 214 rand.

Resources heavyweight, Anglo American jumped 3.32 percent to 293.94 rand while rival BHP Billiton collected 1.92 percent to 241.50 rand. Synthetics giant, Sasol added 2.01 rand to 286 rand.

Among gold counters, Anglogold Ashanti rose 1.08 percent to 281 rand, Gold Fields advanced 2.02 percent to 91.80 rand while Harmony climbed 1.85 percent to 74.50 rand.

Steel giant, ArcelorMittal resumed trading on Wednesday after it asked the JSE suspend trading in its shares on Friday after announcing that Sishen Iron Ore Company, a subsidiary of Kumba Iron Ore, would no longer be supplying it iron ore at a discounted rate. The steel maker's stock price took a hefty blow plunging 22.65 percent to 90.25.

Meanwhile Kumba Iron Ore, which is willing to supply the iron ore to ArcelorMittal at commercial prices, said the steel miner failed to convert its 21.4 percent undivided share in the old order mining rights which it held in relation to the Sishen mine to now order mining rights under the new mining laws.

Among construction groupc, Murray & Roberts collected 2.35 percent to 39.20 rand, Group Five lifted 2.61 percent to 33.45 rand while Assore rallied 3.47 percent to 7.45 rand.

Paper producer, Mondi shot up 6.04 percent to 49 rand while rival Sappi soared 3.22 percent to 30.15 rand.

Short-term insurer, Santam earlier on Wednesday reported that diluted headline earnings per share for the year ended December had increased from 582 cents to 889 cents. Diluted headline earnings from continuing operations increased from 618 cents to 889 cents. Santam said that after a challenging first half, it had experienced a significantly better second half. This resulted in a pleasing overall performance for 2009 against the backdrop of the difficult economic climate and underwriting conditions. The group's share price rose 1.39 percent to 105.65 rand.

Meanwhile among other financial services groups, Abil jumped 2.83 percent to 33.74 rand while Investec surged 3.01 percent to 58.20 rand.

Banking giant, Absa added 1.10 percent to 138 rand.

Source