JSE gains but platinum producers sink

Johannesburg - South African stocks advanced modestly on Thursday but gains were capped by platinum producers, which sank as the precious metal's spot price approached five-year lows below $1 200 an ounce.

Aquarius Platinum fell 3.9%, making it the biggest decliner of the session, followed by Royal Bafokeng Platinum, which shed 3.6 percent. Lonmin, the world's third largest producer, fell 2.4%.

Retailers led advancers as crude oil fell below $80 a barrel for the first time in four years, a positive for consumers.

Massmart Holdings, a unit of Wal-Mart Stores , zipped 4.2% higher to R136.46 while South Africa's No.2 grocer Pick n Pay Stores Ltd rose 3.7% to R56.16.

But the bourse's main retail indexes and could both be in for a correction as momentum indicators suggest they have strayed into overbought territory.

The benchmark Top-40 index climbed 0.41% to 45 121 while the wider All-Share index added 0.42% to 50 588.