Johannesburg - Stocks were higher on Monday, led by gold shares, as demand for the safe-haven asset rose globally in response to worries US President Donald Trump would use trade to pressure China in security talks.
Gold stocks benefited from a weaker rand, lifting the JSE Top40 index 0.87 percent to 45561.09 points, while the broader all share index gained 0.77 percent to 52457.76 points.
Leading the gainers, Sibanye Gold surged 7.07 percent to R30.73. AngloGold Ashanti rose 4.16 percent to R149.21 and Harmony Gold strengthened 3.53 percent to R34.01.
Meanwhile, global equity markets eased yesterday as investors awaited the first meeting later this week between US President Donald Trump and Chinese President Xi Jinping.
European shares touched a 16-month high before paring gains as they tracked Asian shares higher in the wake of upbeat manufacturing data out of Europe and China.
Shares on Wall Street fell in afternoon trading as investors assessed how Trump’s protectionist stance on trade would play out during meetings with Xi.
On Wall Street, the Dow Jones industrial average had lost 0.38percent to 20584.1 points. The Standard & Poor’s 500 fell 0.48 percent to 2351.43 points.