JSE stays firmer

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Independent Newspapers

The JSE. Photo: Simphiwe Mbokazi.

The JSE share market was in record territory at noon on Wednesday‚ bouncing back from the previous day’s losses‚ as equity markets looked to the US Fed policy statement later today.

Platinum shares and industrials led the upside‚ with SABMiller (SAB) reaching a fresh record high.

“Today’s gains are speculative; we bounced back from the lows of Tuesday with no real new information‚” said Shaun Murison‚ market analyst at IG Markets SA.

At 12:19 local time‚ the JSE all-share index was up 0.82% to 34‚882‚27 points‚ with the Top-40 index gaining 0.92% to 30‚665.31 points.

Among the top movers‚ Sasol was up R3.67‚ or 1.07%‚ to R348.20‚ Anglo American Platinum (AMS) rose R7.80‚ or 1.84%‚ to R432.80 and Impala Platinum (IMP) gained R2.25‚ or 1.73%‚ to R132.25.

Coal of Africa was down 25 cents‚ or 6.85%‚ to R3.40 after the company reported a 9% decline in export coal sales in the June quarter 2012‚ to 411‚005 tonnes‚ from 452‚888 tonnes the same period ago.

In industrials‚ SABMiller (SAB) was up R7.60‚ or 2.14%‚ to R362.90 and AECI rallied R1.83‚ or 2.34%‚ to R79.88.

Nedbank Group (NED) was down R1.64 to 178.98. The bank reported a 23.5% rise in diluted headline earnings per share to 741 cents for the six months ended June 2012 from 600 cents a year ago.

Mediclinic International (MDC) was up R1.45‚ or 3.62%‚ to R41.50 after the private hospital group said it planned to raise R5bn through a rights offer in a comprehensive refinancing package which would position it to pursue strategic growth and development opportunities‚ while significantly reducing financing costs. - I-Net Bridge


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