Publications
Partners
Johannesburg - The share price of Naspers [JSE:NPN] surging above R2 000 a share, along with stronger world markets, has helped the JSE 1.7% higher on Friday.
Naspers, which has an almost 10% weighting in the industrial sector, announced on Friday that it increased its stake in Russian classifieds platform Avito to almost 68% in a $1.2bn (R16bn) deal.
This boosted the All-Share-index 1.7% higher to 54 200 points. The Top 40-index was 1.84% higher at 48 697 points.
Before Friday's gains the All-Share index rose 7.6% over the past 30 days and the Top 40-index gained 8.64% over that period.
The industrial index, with the big dual-listed stocks on the JSE also benefiting from stronger world markets, gained 1.75%. The Financial index was 1.56% stronger and the resources index gained a whopping 2.91%.
World markets reached a two month high on Friday on the prospect of yet more European Central Bank stimulus.
READ: Naspers in R16bn Russian classifieds deal
By 15:45 Naspers' shares were trading 3.2% higher at R2 019.56, mostly also because of the Tencent share price performing well at the moment. Naspers owns 34.4% of Tencent, the Chinese internet giant listed in Hong Kong, and this investment represent most of the income and value in Naspers. Tencent traded 1.98% stronger on HK$149.20
Before Friday Naspers added 19.01% over the past month and is now 37.4% higher for the year to date. Over the past twelve months the share’s value increased with 57.4%.
By 15:45 the share price of SABMiller [JSE:SAB] was down 0.54% on R819.51 and Sasol [JSE:SOL] traded 2.73% stronger on R431.06. Steinhoff [JSE:SHF] gained 1.33% to R85.16 and Richemont [JSE:CFR] was 3.06% higher on R116.25. Both these shares are now agsain trading close to 52 week highs.
FirstRand [JSE:FSR] and Standard Bank [JSE:SBK] are the most widely traded banking shares on the JSE and both were higher by midday.
FirstRand gained 3.12% by 15:45 to R51.22 and Standard Bank was 1.04% stronger on R147.62. Capitec [JSE:CPI] is still the star in the banking sector and gained 2.57% by 15:45 to R588.47. Capitec gained 20.66% over the past 30 days.
Clicks [JSE:CLS] set yet another 52 week high in the retail sector after strong results earlier in the week and traded 7.93% higher on R102.94. Woolworths [JSE:WHL] was also on a new high of R103.66 in morning trade and by 15:45 it was 3.41% higher on R103.16.
Two investment companies, PSG [JSE:PSG] and Reinet [JSE:REI] , are also at 52 week highs. PSG, which gained 22.8% over the past 30 days before Thursday, traded 4.27% higher on R256.3870. Reinet also edge higher to a new high of R30.93 after gaining 0.72% in morning trade. By 15:45 the share price was 1.88% higher R30.95.
