JSE reaches fresh peak

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JSEPic INLSA The JSE board in Sandton in Johannesburg. Photo: Leon Nicholas.

The JSE edged up to a new intraday record on Tuesday‚ in tentative trading as investors awaited a slew of data releases due on later in the day for direction.

At 9.43am‚ the all share index was up 0.14% at 38‚410.92 points‚ with the top 40 index nudging up 0.18% to 34‚135.02 points.

“The energy behind the markets is surprising. In my view‚ it is a reflection of investor optimism that the US will get its finances in order going into 2013‚ while China’s economy is picking up‚” Sasfin Securities director David Shapiro said.

Among Asian bourses‚ Hong Kong’s Hang Seng index was flat as was Japan’s Nikkei 225.

RMB analysts said in a note that the global market focus has been on the resignation of Italian Prime Minister Mario Monti. “PIIGS (Portugal Italy‚ Ireland Greece and Spain) sovereign yields have taken it badly‚ seeing their first sustained spike since the European Central Bank announced the OMT programme in September.”

On the JSE‚ Harmony Gold Mining (HAR) was up 1.39% at R69.89 and Coal of Africa (CZA) lost 3.13% to R1.65.

Construction group Aveng (AEG) lifted 1.39% to R27.63 and retailer Truworths (TRU) gained 1.30% to R102.82. - I-Net Bridge


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