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Johannesburg - South African stocks capped the week with another record close on Friday, with drugs company Aspen Pharmacare rising after it flagged an increase in first-half earnings, while a weaker rand helped underpin mining shares.
Mining companies and other exporters have benefited from the rand's fall to a five-year low in recent weeks, a trend that some analysts see continuing.
"The South African rand has been hit hard," Capital Economics said in a note to clients.
"Looking ahead, a combination of domestic concerns and moves towards less accommodative global monetary conditions suggests that currencies are likely to come under further pressure over the coming months."
The benchmark Top-40 index finished up 0.69% at 42 952.99, its highest close on record. The broader All-Share ended up 0.64 percent at 47 452.24.
South African stocks have had a record run since last year, helped in part by the crumbling rand.
Drugs company Aspen Pharmacare rose 2.2%t to R259 after it said first-half profits likely saw a double-digit increase.
Mining firms, which benefit from the weaker rand because they sell metal for dollars, also rose. AngloGold Ashanti was up 2% to R195.72.
Trade was brisk with 194 million shares changing hands.
Mining companies and other exporters have benefited from the rand's fall to a five-year low in recent weeks, a trend that some analysts see continuing.
"The South African rand has been hit hard," Capital Economics said in a note to clients.
"Looking ahead, a combination of domestic concerns and moves towards less accommodative global monetary conditions suggests that currencies are likely to come under further pressure over the coming months."
The benchmark Top-40 index finished up 0.69% at 42 952.99, its highest close on record. The broader All-Share ended up 0.64 percent at 47 452.24.
South African stocks have had a record run since last year, helped in part by the crumbling rand.
Drugs company Aspen Pharmacare rose 2.2%t to R259 after it said first-half profits likely saw a double-digit increase.
Mining firms, which benefit from the weaker rand because they sell metal for dollars, also rose. AngloGold Ashanti was up 2% to R195.72.
Trade was brisk with 194 million shares changing hands.
