Industrials prop up JSE

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JSE1 Independent Newspapers The JSE. Photo: Simphiwe Mbokazi.

The JSE traded within a narrow range at noon‚ with industrial shares such as Richemont‚ Naspers‚ and Vodacom keeping the market in the black.

At 12.32pm‚ the JSE all-share index was up 0.26% to 37‚442.33 points‚ with the top 40 index adding 0.32% to 33‚227.68. The industrial index lifted 0.86% but platinum stocks gave up 1.27%.

“There is no real sense of direction for our markets. Investor sentiment across Asia and Europe also looks fragile due to worries about the debt-funded US economy‚ which we think is unsustainable‚” said Jean Hamann‚ portfolio manager at Körner Perspective.

Leading European stocks were mixed at noon‚ with London’s FTSE 100 gaining 0.15%.

Among individual shares on the JSE‚ Richemont (CFR) was up 3.73% to R60.60 and Naspers (NPN) gained 1.94% to R555.04.

Vodacom (VOD) jumped to 3.52% to 114.80‚ a new all-time high after the mobile service operator reported a rise in diluted headline earnings per share in the six months ended September to 394.6 cents‚ from 322.2 cents a year ago.

Aquarius Platinum (AQP) was down 2.07% to R5.69 and Harmony Gold Mining (HAR) lost 2.57% to R72.15. - I-Net Bridge


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