• Retribution will come

    Those who now pay the price for opposing a corrupt system shall rise again, says Solly Moeng.

  • Ego - the enemy within

    Successful people are humble in their aspirations and resilient in failure, says Ian Mann.

  • You can’t eat dust

    We should insist on products that save our soil and ensure food security, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Industrials lead JSE gains at noon

Apr 02 2013 14:08
I-Net Bridge
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
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote

Loading...