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Johannesburg - South African stocks ended a holiday-shortened session higher on Friday, gaining 0.8% as firmer commodity prices helped put the benchmark index at a break-even level for 2011.
The JSE Top 40 (Tradeable) [JSE:J200] blue-chip index rose for the second straight session, finishing at 28 641.11, virtually unchanged so far this year, but on course to outperform European and Japanese equity markets, both down about 12% and 17% respectively.
The broader All Share [JSE:J203] index was 0.7% higher at 32 127.25.
“I don’t think the market is going to do much in the last trading days of the year. We’re are likely to end the year around these levels,” said Desmond Reilly, a portfolio manager at PSG Securities said.
Gold miners topped the gainers’ list, tracking a firmer bullion price. Gold Fields, the country’s second-largest gold miner, was 2.96% higher at R130.49.
AngloGold Ashanti, the country’s top gold miner, added 1.84% to R352.88 and smaller rival Harmony Gold improved 2.04% to R99.99.
Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat US economic data encouraged investors, although nagging concerns about the eurozone still weighed on sentiment.
Other top gainers were brewer SABMiller, up 1.63% to R285.62 and cigarette maker British American Tobacco, which advanced 1.19% to R383.50.
Among decliners, clothing retailer Truworths retreated 2.01% to R74.77, after rising nearly 3% the previous session. Food retailer Shoprite lost 0.59% to R134.24 and consumer foods maker Shoprite slipped 0.79% to R252.74.
Volumes were thin, with preliminary data showing 60 million shares changed hands - well below the 200-day moving average of 250 million shares.
Johannesburg markets will be closed for national holidays on Monday and Tuesday.
The JSE Top 40 (Tradeable) [JSE:J200] blue-chip index rose for the second straight session, finishing at 28 641.11, virtually unchanged so far this year, but on course to outperform European and Japanese equity markets, both down about 12% and 17% respectively.
The broader All Share [JSE:J203] index was 0.7% higher at 32 127.25.
“I don’t think the market is going to do much in the last trading days of the year. We’re are likely to end the year around these levels,” said Desmond Reilly, a portfolio manager at PSG Securities said.
Gold miners topped the gainers’ list, tracking a firmer bullion price. Gold Fields, the country’s second-largest gold miner, was 2.96% higher at R130.49.
AngloGold Ashanti, the country’s top gold miner, added 1.84% to R352.88 and smaller rival Harmony Gold improved 2.04% to R99.99.
Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat US economic data encouraged investors, although nagging concerns about the eurozone still weighed on sentiment.
Other top gainers were brewer SABMiller, up 1.63% to R285.62 and cigarette maker British American Tobacco, which advanced 1.19% to R383.50.
Among decliners, clothing retailer Truworths retreated 2.01% to R74.77, after rising nearly 3% the previous session. Food retailer Shoprite lost 0.59% to R134.24 and consumer foods maker Shoprite slipped 0.79% to R252.74.
Volumes were thin, with preliminary data showing 60 million shares changed hands - well below the 200-day moving average of 250 million shares.
Johannesburg markets will be closed for national holidays on Monday and Tuesday.
