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SA's Imperial up with global auto trend

Jan 17 2013 16:15 Reuters

'OUTSTANDING' RESULTS: Imperial has revealed what it is calling \outstanding\ results, as it celebrates success even during tough economic times.

Company Data

IMPERIAL HOLDINGS LIMITED [JSE:IPL]

Last traded 197.77
Change 1.29
% Change 0.01
Cumulative volume 223522
Market cap 41.10bn

Last Updated: 24/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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SHARES of Imperial Holdings [JSE: IPL]rise as investors look to increase their exposure to well-performing auto companies, driving South Africa's biggest, listed logistics group up over 2%. 
                
"Ford broke out of a downward trend which has been going on for about two years, Volkswagen has been going up. There's actually an ETF on autos which has performed, which has been up for about 23% over the last two months," said Ilan Arbel, a trader for Consilium Securities.

Imperial, which brings in about a quarter of its revenue from selling cars, is up 2.3% at R202.50.

"Due to the continual demand for autos ... and looking at all those other companies Imperial is the one real company that South Africans can get exposure to that upward drive, and I think that's exactly what's driving up Imperial."

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imperial  |  car industry
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