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Johannesburg - South African stocks edged up for a second straight day on Tuesday as Anglo American Platinum and Impala Platinum rose after Amcu said it is considering a government proposal to resolve its five-month strike.
Shares of Telkom extended last week's gains, soaring nearly 5% to R40.80 - a four-year high - as the phone operator looked set to post better-than-expected full-year earnings.
"Telkom is running ahead on very good earnings," said Lavan Gopal, a chief investment officer at Trademar Futures.
"The good news from the Telkom stock is actually helping some of the other companies."
The benchmark Top-40 index edged up 0.27% to 44 975.70, while the broader All-share index ticked up 0.24% to 49 936.54.
Amplats, the biggest gainer on the Top-40 index, rose 3.4% to R473.13, while Implats was up 1.8% to R115.00.
The President of the Association of Mineworkers and Construction Union (Amcu), Joseph Mathunjwa, said the labour group was considering the government's latest proposal, fuelling hopes that the intervention by new mines minister could finally break the deadlock in the platinum industry.
Shares of retailers fell, weighed down by fears that the domestic economy may slip into recession, following weak GDP and trade deficit data.
Woolworths was down 1.9% to R73.40 and Shoprite ended 1.5% lower at R161.40.
Trade was active with about 206 million shares sold, with advancers outpacing decliners 166 to 163, according to preliminary bourse statistics.
Shares of Telkom extended last week's gains, soaring nearly 5% to R40.80 - a four-year high - as the phone operator looked set to post better-than-expected full-year earnings.
"Telkom is running ahead on very good earnings," said Lavan Gopal, a chief investment officer at Trademar Futures.
"The good news from the Telkom stock is actually helping some of the other companies."
The benchmark Top-40 index edged up 0.27% to 44 975.70, while the broader All-share index ticked up 0.24% to 49 936.54.
Amplats, the biggest gainer on the Top-40 index, rose 3.4% to R473.13, while Implats was up 1.8% to R115.00.
The President of the Association of Mineworkers and Construction Union (Amcu), Joseph Mathunjwa, said the labour group was considering the government's latest proposal, fuelling hopes that the intervention by new mines minister could finally break the deadlock in the platinum industry.
Shares of retailers fell, weighed down by fears that the domestic economy may slip into recession, following weak GDP and trade deficit data.
Woolworths was down 1.9% to R73.40 and Shoprite ended 1.5% lower at R161.40.
Trade was active with about 206 million shares sold, with advancers outpacing decliners 166 to 163, according to preliminary bourse statistics.
