• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Industrials lead JSE gains at noon

Apr 02 2013 14:08 I-Net Bridge


Related Articles

New era for listed property on JSE

JSE steady ahead of holiday weekend

JSE flat‚ eurozone in focus

JSE falls on eurozone jitters

JSE drops on EU concerns

Banks and financials buoy JSE

 
Johannesburg - The industrial stocks led the JSE gains in the first trading day of the second quarter after the all share index gained a paltry 1.56% in the last quarter‚ dominated largely by industrial and financial stocks.

At 12:47 the JSE All Share [JSE:J203] index was up 0.54% at 40 076.01 points‚ with the blue-chip Top 40 - (Tradeable) [JSE:J200] index gaining by a similar margin.

Industrial stocks lifted 0.94% but the gold index dropped 1.06%.

In the three months to March‚ industrials gained 9%‚ followed by financial stocks‚ up just over 4%. Gold stocks were the worst performers‚ down 18% with platinum counters dropping 13% in the same period.

“The JSE has underperformed other equity markets in dollar terms‚” said David Shapiro‚ market analyst at Sasfin Securities. “It is very difficult to see how the JSE is going to find momentum in this quarter relative to other markets. What worries me though is the investor interest in lower quality stocks. Can one really build a portfolio on the sustainable basis in these stocks?”

Leading European markets were generally firmer at noon‚ with London’s FTSE 100 index up 1.03%.

On the JSE‚ Anglo American (AGL) was down 1.48% to R235.80‚ Sibanye Gold (SGL) lost 2.24% to R13.09 and African Rainbow Minerals (ARI) fell 1.23% to R187.

British American Tobacco (BTI) was up 1.52% to R503.21 and Barloworld (BAW) rallied 3.29% to R98.99.

Vodacom (VOD) gained 2.14% to R112.25 and MMI Holdings (MMI) added 2.84% to R23.89.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

jse  |  markets

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

10 most expensive cars In the world

This is car porn at its best!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...