(Updates with closing prices)
JOHANNESBURG Jan 3 South African stocks kicked
off 2017 in positive territory as a platinum rally spurred
producers of the precious metal, while dollar strength knocked
the volatile rand into the red.
The benchmark Top-40 index gained 0.8 percent on
Tuesday, the first day of trade after the long New Year weekend,
to reach 44,261.26. The benchmark All-share index ended
the day 0.7 percent higher at 51,020.66.
Platinum producers Lonmin and Northam were
the biggest gainers, shooting up 16 percent and 7.7 percent
respectively. The world's top producer Anglo American Platinum
rose 4.7 percent.
Spot platinum was up almost 4.6 percent at $941.30 an
ounce, mirroring surges in other commodities such as oil after
the release of upbeat Chinese data.
But the strong dollar had the rand on the backfoot,
with the currency 0.60 percent softer at 13.8025/dlr.
Government bonds were weaker, and the yield for the
benchmark instrument due in 2026 was 0.45 basis points
higher at 8.97 percent.
(Reporting by Ed Stoddard; Editing by Susan Fenton)