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Johannesburg - South African stocks rose slightly on Wednesday as investors returned to retailers such as Shoprite that have been sold in recent sessions and resource firms, even as their production is threatened by strikes.
Shares of Anglo Platinum (Amplats), the world's top platinum producer, rose 3.4% to R432 after it said it swung back to profit in 2013, rebounding from a wave of strikes.
Retailers recovered after getting hit in recent sessions after a series of weaker-than-expected sales figures.
"A lot of retail stocks gave us their trading update, people started to sell off sharply, and now there is some bits of them coming back," said Lavan Gopaul, chief investment officer at Trademar Futures.
The Top-40 index closed up 0.16% at 42 262.16. The wider All-share index rose 0.24% to 47 000.95
Grocer Shoprite climbed 2.7% to R154.10 and apparel retailer Truworths added 2% to R77.75.
Shares of the companies have remained buoyant in the face of strikes as investors have largely focused on the benefits of higher metal prices from reduced production.
Advancers outnumbered decliners 175 to 132, with 152 million shares changing hands, according to preliminary bourse data.
Shares of Anglo Platinum (Amplats), the world's top platinum producer, rose 3.4% to R432 after it said it swung back to profit in 2013, rebounding from a wave of strikes.
Retailers recovered after getting hit in recent sessions after a series of weaker-than-expected sales figures.
"A lot of retail stocks gave us their trading update, people started to sell off sharply, and now there is some bits of them coming back," said Lavan Gopaul, chief investment officer at Trademar Futures.
The Top-40 index closed up 0.16% at 42 262.16. The wider All-share index rose 0.24% to 47 000.95
Grocer Shoprite climbed 2.7% to R154.10 and apparel retailer Truworths added 2% to R77.75.
Shares of the companies have remained buoyant in the face of strikes as investors have largely focused on the benefits of higher metal prices from reduced production.
Advancers outnumbered decliners 175 to 132, with 152 million shares changing hands, according to preliminary bourse data.
