Johannesburg, March 1, 2026, 10:04 SAST — The market is closed.
- JSE shares finished Friday on the front foot, resource counters driving gains into month-end.
- Absa’s manufacturing PMI and South Africa’s GDP numbers top the local economic calendar.
- The dollar and shares tied to commodities could see moves on global PMIs and U.S. payrolls.
Johannesburg stocks advanced Friday, with the JSE Top-40 index climbing 1.56% to 120,296. The All Share finished the session up 1.48% at 128,456. After the weekend pause, trading picks up again on Monday. 1
Why it matters now: The Johannesburg Stock Exchange (JSE) is heavy on miners, banks, and offshore earners—making it highly sensitive to moves in the dollar and swings in commodity prices. February is in the rearview; new data on growth and factory output will hit soon, potentially shaking up forecasts for both rates and earnings.
The rand eased 0.3% to 15.9650 per dollar on Friday, with traders picking through month-end figures that showed a surprisingly large January trade surplus alongside a budget deficit. “Any shift in commodity prices, global risk appetite or domestic politics could test the sustainability of the recent strength,” TreasuryONE currency strategist Wichard Cilliers said. 2
Resource stocks pulled the market higher late in the session. Impala Platinum jumped 5.1%, Anglo American Platinum climbed 4.4%, and AngloGold Ashanti picked up 3.6% on Friday. Richemont slipped roughly 3%, while Naspers barely budged. 3
Monday brings the Absa Manufacturing Purchasing Managers’ Index (PMI), a monthly gauge from factory managers eyed for hints on demand shifts. The 50-point line remains key: above it, expansion; below, contraction. 4
January’s PMI came in at 48.7, data from Trading Economics shows, a marked improvement from December’s 40.5 but still shy of the 50 threshold. 5
South Africa’s fourth-quarter GDP data lands Wednesday. If the figure disappoints, attention turns to the pace of local growth—and what options policymakers actually have, provided inflation doesn’t flare up. 6
Outside South Africa, eyes are on global PMI numbers and Friday’s U.S. jobs data—both key signals for the dollar and commodities, and by extension, Johannesburg’s miners and global earners. “It’s possible that we could see uncertainty rise further,” said Chris Williamson, chief business economist at S&P Global Market Intelligence, as tariff and geopolitical risks start weighing on business confidence. 7
Impala Platinum is set to release its interim results March 5, with CEO Nico Muller leading a webcast and conference call for investors. Shares have swung sharply among large-caps this year, so the upcoming numbers from Implats could well jolt sentiment across the mining sector. 8
Jubilee Metals Group, listed in Johannesburg, said it handed shares to CEO Leon Coetzer and finance director Jonathan Morley-Kirk as part of a deal tied to the sale of its chrome and platinum-group metals operations in South Africa. The newly issued shares are expected to begin trading on or about March 5. 9
The setup isn’t one-sided. Should U.S. numbers delay rate-cut expectations and send the dollar higher, or if gold and platinum prices slip, appetite for South African assets can vanish quickly. That leaves the rand and cyclical stocks out in the cold.
Traders are eyeing Monday’s PMI for clues on domestic demand, before turning to GDP figures midweek. The U.S. payrolls report lands Friday, shaping the next session’s direction.
