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Industrials prop up JSE

Nov 12 2012 14:32 I-Net Bridge

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Johannesburg - The JSE traded within a narrow range at noon‚ with industrial shares such as Richemont‚ Naspers‚ and Vodacom keeping the market in the black.

At 12:32‚ the JSE All Share [JSE:J203] index was up 0.26% to 37 442.33 points‚ with the Top 40 - (Tradeable) [JSE:J200] index adding 0.32% to 33 227.68. The industrial index lifted 0.86% but platinum stocks gave up 1.27%.

“There is no real sense of direction for our markets. Investor sentiment across Asia and Europe also looks fragile due to worries about the debt-funded US economy‚ which we think is unsustainable‚” said Jean Hamann‚ portfolio manager at Körner Perspective.

Leading European stocks were mixed at noon‚ with London’s FTSE 100 gaining 0.15%.

Among individual shares on the JSE‚ Richemont was up 3.73% to R60.60 and Naspers gained 1.94% to R555.04.

Vodacom jumped to 3.52% to 114.80‚ a new all-time high after the mobile service operator reported a rise in diluted headline earnings per share in the six months ended September to 394.6 cents‚ from 322.2 cents a year ago.

Aquarius Platinum was down 2.07% to R5.69 and Harmony Gold Mining lost 2.57% to R72.15.
jse  |  markets  |  stocks
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