Mining and industrial stocks kept the JSE in positive territory at noon‚ against the generally negative global backdrop following the downgrade of France’s triple-A rating by Moody’s.
At 12.44pm‚ the all-share index was up 0.15% at 37‚287 points‚ with the top 40 index nudging up 0.21% to 33‚090.34. Platinum and industrial indices lifted 0.67% and 0.48%‚ respectively.
“Europe remains an issue for investors. Global economic growth in the foreseeable future is going to be driven by emerging markets and companies that sell into those markets‚” said David Shapiro‚ a director at Sasfin Securities.
Leading European bourses were in the red at noon‚ with UK’s FTSE 100 down 0.15%.
Among individual stocks on the JSE‚ BHP Billiton (BIL) lifted 1.10% to R274.12 and Aquarius Platinum (AQP) lifted 7.07% to R6.06.
But Exxaro (EXX) lost 3.52% to R157.78.
Among industrials‚ British American Tobacco (BAT) was up 1.48% to R451.33 and Richemont (CFR) rallied 3.69% to R64.29‚ a record high for the counter.
Telecom share Vodacom (VOD) gained 1.49% to R118.50 and RMB Holdings (RMH) dipped 2.35% to R39.81. - I-Net Bridge