Publications
Partners
Johannesburg - South African shares rose slightly on Wednesday with investors returning to major platinum miner Impala Platinum, seen as relatively cheap after being beaten down for weeks due to the fall in the spot price of the precious metal.
Trade was thin with many market players waiting for the results of elections in Greece this weekend that will have a huge impact on the euro zone, which is South Africa's biggest trading bloc partner and the main export market for its manufactured goods.
The benchmark index Top 40 - (Tradeable) [JSE:J200] index ended 0.56% stronger at 30 050.04. The broader All Share [JSE:J203] index gained 0.54% to 34 037.83.
"There has not been any driving activity today," said Michael Carlsson, a trader at Consilium Capital. "Everyone is sitting back and waiting for Sunday's Greek elections."
Share prices in Johannesburg were negative for most of the day but turned positive in late afternoon when European shares cut losses.
Implats was the best-performing Top-40 stock, rising nearly 4 percent to 141.69 rand. The price is still down 15 percent this year.
Coal of Africa, a small producer, rose nearly 5 percent to 4.88 rand after the company said its estimated reserves in the Greater Soutpansberg area stood at 8 billion tonnes, an increase of over 400 percent from previous estimates.
Vehicle tracking company firm Mixtel rose more than 5 percent to 2.2 rand after declaring a cash dividend of 8 cents per share.
Retailers including Woolworths weakened marginally after year-on-year retail sales figures for April tumbled to 1 percent from 6.7 percent in March.
Volumes traded in Johannesburg stood at 165 million, according to preliminary data, down from 225 million shares in the previous session.
