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Johannesburg - South African stocks ended a see-saw session virtually unchanged on Friday, pulling back from a record high set earlier in the day as investors digested the widely watched US jobs data.
But Sanlam, which posted a 39% jump in annual earnings this week, surged after several brokerages, including Barclays Capital, gave upbeat comments about its prospects.
Shares in the nation's biggest insurer climbed 1.8% to R53.19, making it the top gainer on Johannesburg's main stock index
Overall, investors were largely cautious as they digested the US jobs data that reassured them about the health of the world's biggest economy but also reinforced worries the US will rein its economic stimulus programme.
"This report is a pretty tough one to read. Job numbers are better than expected ... What's not in doubt is that the taper will continue as is" said Marcus Bullus, trading director of MB Capital.
The blue chip JSE Top-40 index inched down 0.07% at 43 206.26, pulling back from a record high of 43 434.57. The broader All-share index also edged down by the same margin to 47 786.77. It set a record high 48 002.23.
Advancers outnumbered decliners 175 to 124 with 48 issues unchanged. An average 170 million shares changes hands, according to preliminary bourse data.
But Sanlam, which posted a 39% jump in annual earnings this week, surged after several brokerages, including Barclays Capital, gave upbeat comments about its prospects.
Shares in the nation's biggest insurer climbed 1.8% to R53.19, making it the top gainer on Johannesburg's main stock index
Overall, investors were largely cautious as they digested the US jobs data that reassured them about the health of the world's biggest economy but also reinforced worries the US will rein its economic stimulus programme.
"This report is a pretty tough one to read. Job numbers are better than expected ... What's not in doubt is that the taper will continue as is" said Marcus Bullus, trading director of MB Capital.
The blue chip JSE Top-40 index inched down 0.07% at 43 206.26, pulling back from a record high of 43 434.57. The broader All-share index also edged down by the same margin to 47 786.77. It set a record high 48 002.23.
Advancers outnumbered decliners 175 to 124 with 48 issues unchanged. An average 170 million shares changes hands, according to preliminary bourse data.
