Africa's biggest transport and logistics group Imperial Holdings surges almost 6 percent after being marked down in Wednesday's auction, bouncing back to more realistic levels, traders say.
The company advances 5.13 percent to 82 rand by 10:50 SA time, outpacing a sluggish JSE Mid-Cap index, which is up 0.16 percent.
"It (Imperial) was marked down in the auction last night. I think yesterday's close was more of an accurate reflection of where it should have been trading," says Garth Mackenzie, a derivatives trader at Imara SP Reid.
"There was probably a big seller in the auction that marked it down, it was almost like an artificial close, it shouldn't have closed there. So, the market is taking it back up to more realistic levels this morning." - Reuters