Johannesburg - The SA stock market traded in a narrow range
at noon but remained in record territory‚ tracking mildly positive sentiment on
At 12:20pm‚ the All Share [JSE:J203] index was up 0.24% at
38‚448.24 points‚ with the Top 40 - (Tradeable) [JSE:J200] index nudging up
0.25% to 34‚158.58 points. Gold shares‚ however‚ slipped 1.06%.
“We are at a new high almost by stealth‚ with no real
conviction‚” said Craig Pheiffer‚ general manager at Absa Investments. “Having
said that‚ liquidity continues to flow into equities in the face of low cash
and bond yield rates.”
The all-share index is up just under 1% this month.
Leading European markets were broadly higher at noon‚ with
no obvious catalyst in play. The ongoing US budget talks remain the key focus
of investor attention. The UK’s FTSE 100 was up 0.14% at 12:05pm local time.
“The energy behind the markets is surprising. In my view‚ it
is a reflection of investor optimism that the US will get its finances in order
going into 2013‚ while China’s economy is picking up‚” Sasfin Securities
director David Shapiro said.
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