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Johannesburg - South African stocks hit a record high for the second day in a row on Wednesday, with mining shares leading the pack on the continent's biggest bourse.
Metal prices cruised higher during the session with copper hitting a more than 3-week high, boosting mining shares such as African Rainbow Minerals.
Shares in the diversified miner rose 3.8% to R215.96, making it the top gainer on the blue-chip JSE Top-40 index.
The Top-40 added 0.7% to a record closing high of 43 631.70. It earlier scaled a lifetime peak of 43 698.33.
The broader All-share index notched up a record 48 473.99 before pulling back slightly to end 0.6% higher at 48 404.90.
Anglo Platinum (Amplats) also featured on the gainers' list, climbing for the second day after the strike-hit mining firm declared force majeure, temporarily relieving it of financial obligations to suppliers.
"Amplats doesn't have to pay their costs immediately but they can still continue to collect revenue as they have been," said Lavan Gopaul, chief investment officer at Trademar Futures.
Mobile telecoms giant Vodacom increased by 2.07% to R132.05 after it denied speculation that talks to buy domestic fixed-line operator Neotel had fallen through.
"We're busy finalising the agreements and in the final stages of that part of negotiation," Vodacom spokesman Richard Boorman said.
On the flipside, consumer foods firm Tiger Brands dropped 3.77% to R267.50, while transport and logistics operator Imperial Holdings skidded 3.4% to R182.29.
Advancers outnumbered decliners 186 to 136, while volumes were robust as around 270 million shares changed hands, according to preliminary bourse data.
Metal prices cruised higher during the session with copper hitting a more than 3-week high, boosting mining shares such as African Rainbow Minerals.
Shares in the diversified miner rose 3.8% to R215.96, making it the top gainer on the blue-chip JSE Top-40 index.
The Top-40 added 0.7% to a record closing high of 43 631.70. It earlier scaled a lifetime peak of 43 698.33.
The broader All-share index notched up a record 48 473.99 before pulling back slightly to end 0.6% higher at 48 404.90.
Anglo Platinum (Amplats) also featured on the gainers' list, climbing for the second day after the strike-hit mining firm declared force majeure, temporarily relieving it of financial obligations to suppliers.
"Amplats doesn't have to pay their costs immediately but they can still continue to collect revenue as they have been," said Lavan Gopaul, chief investment officer at Trademar Futures.
Mobile telecoms giant Vodacom increased by 2.07% to R132.05 after it denied speculation that talks to buy domestic fixed-line operator Neotel had fallen through.
"We're busy finalising the agreements and in the final stages of that part of negotiation," Vodacom spokesman Richard Boorman said.
On the flipside, consumer foods firm Tiger Brands dropped 3.77% to R267.50, while transport and logistics operator Imperial Holdings skidded 3.4% to R182.29.
Advancers outnumbered decliners 186 to 136, while volumes were robust as around 270 million shares changed hands, according to preliminary bourse data.
