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Johannesburg - South Africa's All-Share index booked its highest finish on record on Thursday, rising 0.22% as a spike in the bullion price boosted gold producers such as AngloGold Ashanti and Sibanye Gold.
Shares of Life Healthcare rose 2.4% to R38.52 after the private hospital group said full-year earnings likely rose by as much as 22 %.
While sentiment was marginally boosted by news of a temporary deal to avoid a US debt default, investors had already priced in expectations of such a deal, said Reuben Beelders, a portfolio manager at Gryphon Asset Management.
"People will start focusing on fundamentals again," he said. "From a valuation perspective, we certainly aren't a screaming buy at this time."
The All-Share index, the widest measure of South African stock performance, rose to 44 514.12, its highest close on record. Earlier in the session it touched a record high of 44 623.47.
The benchmark Top-40 index finished up 0.28% at 39 787.24.
Gold rose more than 3% as investors bet a temporary deal to avoid a historic US debt default might prompt the Federal Reserve to delay reducing its additional monetary stimulus.
That lifted industry leader AngloGold Ashanti 5.8% to R143.24. Smaller rival Sibanye jumped 5.7% to R13.25.
SABMiller rose 4% to R499.40 after the world's second-largest beer maker said first-half net revenue rose 4 percent, driven by growth in Latin America and Africa.
Shares of Shoprite edged down 0.5% to R174.10. Zambia on Thursday threatened to shut Shoprite's operations after the retailer fired 3 000 workers who went on strike.
Trade was relatively slow, with 155 million shares changing hands, according to preliminary bourse data.
A total of 136 shares advanced, 159 declined and 58 were unchanged.
Shares of Life Healthcare rose 2.4% to R38.52 after the private hospital group said full-year earnings likely rose by as much as 22 %.
While sentiment was marginally boosted by news of a temporary deal to avoid a US debt default, investors had already priced in expectations of such a deal, said Reuben Beelders, a portfolio manager at Gryphon Asset Management.
"People will start focusing on fundamentals again," he said. "From a valuation perspective, we certainly aren't a screaming buy at this time."
The All-Share index, the widest measure of South African stock performance, rose to 44 514.12, its highest close on record. Earlier in the session it touched a record high of 44 623.47.
The benchmark Top-40 index finished up 0.28% at 39 787.24.
Gold rose more than 3% as investors bet a temporary deal to avoid a historic US debt default might prompt the Federal Reserve to delay reducing its additional monetary stimulus.
That lifted industry leader AngloGold Ashanti 5.8% to R143.24. Smaller rival Sibanye jumped 5.7% to R13.25.
SABMiller rose 4% to R499.40 after the world's second-largest beer maker said first-half net revenue rose 4 percent, driven by growth in Latin America and Africa.
Shares of Shoprite edged down 0.5% to R174.10. Zambia on Thursday threatened to shut Shoprite's operations after the retailer fired 3 000 workers who went on strike.
Trade was relatively slow, with 155 million shares changing hands, according to preliminary bourse data.
A total of 136 shares advanced, 159 declined and 58 were unchanged.
