JSE breaks three days of losses

Johannesburg - The JSE ended slightly higher on Thursday, breaking three straight days of losses as investors chased after bargains but a softer gold price hit mining shares.

Truworths [JSE:TRU] featured among the top gainers after the apparel retailer unveiled a deal to expand further in the upscale children's clothing market.

Its shares jumped 3.2% to R75.52, their biggest daily percentage gain in more than three months.

Overall, investors picked up stocks deemed to have strayed into oversold territory following recent sharp losses, said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.

The JSE Top 40 index gained 0.35% to 44 910 and the broader All-share index added 0.4% to 50 557.

Fixed line phone operator Telkom [JSE:TKG] climbed 4.05% to 68.40, recouping all the losses suffered in the past five sessions.

SABMiller [JSE:SAB] was up 0.3% to R610.78 rand after the brewer said it would team up with Coca-Cola to bottle and distribute fizzy drinks in Africa.

Tracking a softer gold price, AngloGold Ashanti [JSE:ANG] and Gold Fields [JSE:GFI] were down between 1 and 2%.

Trade was slightly below average, with 167 million shares changing hands, compared with last year's daily average of 176 million shares.