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Johannesburg - The JSE opened firmer on Tuesday with industrials leading the way.
At 9:26am the JSE All Share [JSE:J203] index was up 0.51% to 38‚364.99 points and the industrial sector up 0.88%‚ but gold mining counters were down 0.85%.
Major European markets opened firmer with London’s FTSE 100 up 0.20% at 9:11am local time. In Japan the Nikkei 225 closed 0.29% lower‚ while Hong Kong’s Hang Seng index was down 1.07% before the close.
On the JSE‚ SAB Miller [JSE:SAB] was up 0.93% to R479.44. The company announced earlier that executive chairperson Graham Mackay has been diagnosed with a brain tumour. He underwent surgery on Monday and will now embark on a course of treatment.
Accordingly‚ the board has accelerated the planned promotion of chief operating officer Alan Clark to chief executive with immediate effect‚ the group said. Clark was appointed as chief operating officer in July 2012 with a view to succeeding Mackay as chief executive in July 2013 after a transitional period of one year‚ when it was intended that Mackay would become non-executive chair.
Pick n Pay Stores [JSE:PIK] was down 1.38% to R40.73 after it reported a 21.7% reduction in diluted headline earnings per share to 109.61c despite a 7.1% rise in turnover to R59.3bn.
Dividends declared fell by 35.8% to 84 cents per share.
