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Johannesburg - The JSE remained marginally firmer at noon‚
on course to end the month on a positive note‚ having chalked up more than 4%
growth on the All Share [JSE:J203] and Top 40 - (Tradeable) [JSE:J200] indices
respectively.
At 12:42pm‚ the JSE all share index was up 0.19% at
37‚215.77 points‚ with the top 40 index edging up 0.18% to 33‚061.76. Gold
counters lifted 0.85%
“The rand hedges are in the main responsible for most of the
gains in the month. It’s not economic fundamentals‚ which brings into question
the sustainability of the momentum‚” said Mark Witten‚ portfolio manager at
Kaizen Asset Management.
The rand has weakened about 4% to the US dollar Since
September 28 due to‚ among other things‚ labour unrest in the mining sector.
Elsewhere‚ major European shares were mixed at noon‚ with London’s FTSE 100 slipping 0.09% at 12:27pm local time‚ while Wall Street was due to reopen this afternoon after a two-day shutdown due to Hurricane Sandy.
