SA stocks extend gains, led by miners

Johannesburg - South African stocks have ended higher on Thursday, extending their winning run to a fourth straight day with miners among the biggest gainers after the European Central Bank announced measures to stimulate the euro zone economy.

Investors were betting that mining houses could benefit if the ECB's stimulus results in improved economic growth, said Abri du Plessis of Gryphon Asset Management in Cape Town.

"If they can kick-start the global economy there will be an increase in demand for commodities. That's what investors are hoping for and that's what is driving the miners," he said.

READ: JSE continues upward trend

Bourse heavyweight Anglo American [JSE:AGL] climbed 2.8% to R198.50 rand and rival BHP Billiton [JSE:BIL] was up 1.9% to R251.48.

The benchmark JSE Top-40 index was up 0.56% at 43 725 and the broader All-share index gained by a similar margin to 49 872.

However, du Plessis cautioned that investors might be too optimistic about the benefits of more stimulus, given the underlying economic fragility.

"There's no guarantee that this kind of money printing is going to work."

Naspers [JSE:NPN] rose 0.2% to R1 636.01 after Morgan Stanley raised its target price.

Trade was robust with 226 million shares changing hands, above last year's daily average of 183 million shares, according to preliminary bourse data.