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JSE inches up lifted by financials, Naspers

May 10 2018 19:12
Musa Makoni, EasyEquities


Company Data

PSG KONSULT LIMITED [JSE:KST]

Last traded 10
Change 0
% Change 1
Cumulative volume 48383
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Steinhoff International Holdings NV [JSE:SNH]

Last traded 2
Change 0
% Change 19
Cumulative volume 18577166
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

NASPERS LIMITED [JSE:NPN]

Last traded 3180
Change 34
% Change 1
Cumulative volume 974911
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The JSE inched higher on Thursday, as financials and index heavyweight Naspers lifted the local bourse.

Local economic data disappointed as South African mining production contracted quite significantly as indicated by the 8.4% contraction year-on-year (y/y), as well as a 3.4% contraction month-on-month (m/m).

These numbers missed initial estimates which had forecasted production to remain largely unchanged for the two periods.

Manufacturing production y/y for South Africa also disappointed as it contracted by 1.3%, which missed the forecasted 1% growth. Manufacturing Production m/m grew by 1.3%, which was better than the forecast of 0.3%.

Taking a look at the performance of JSE-listed stocks, Naspers [JSE:NPN] led gains in the JSE Top-40 Index to end the day up 3.54% at R3 165.14 per share.

Bankers were buoyed by the firmer rand as Nedbank [JSE:NED], Standard Bank [JSE:SBK] and FirstRand [JSE:FSR] racked up gains of 2.27%, 1.3% and 1.06% respectively.

Sasol [JSE:SOL] continued to trade firmer as it gained 1.45% to close at R452.96 per share. Anglo American Plc [JSE:ANG] added 0.27% to close at R298.38 per share.

Assore [JSE:ASR] was one of the day’s biggest gainers after it climbed by 3.16%. PSG Konsult [JSE:KST] gained 3.85%, while coal miner Exxaro Resources [JSE:EXX] added 2.33%.

Other notable moves higher were recorded in Tradehold [JSE:TDH] and Tongaat Hulett [JSE:TON], which gained 4.35% and 2.52% respectively.

Datatec [JSE:DTC] dipped significantly in today’s session as it lost 9.33% to close at R19.72 per share.

Platinum miners Lonmin [JSE:LON] and Impala Platinum [JSE:IMP] slid further to lose 6.57% and 6.07% respectively, while Sibanye-Stiillwater [JSE:SGL] lost 4.62% to close at R8.93 per share.

Steinhoff International [JSE:SNH] hit a fresh all-time low of R1.56 per share after the release of a process update. It eventually ended the day down 3.87% at R1.74 per share.

Retailers Massmart [JSE:MSM] and Truworths [JSE:TRU] came under pressure despite the stronger rand to end the day down 4.73% and 4.84% respectively.

Bid Corporation [JSE:BID] and Mediclinic [JSE:MEI] lost 3.57% and 3.79% respectively, while rand hedges Mondi Ltd [JSE:MND] and British American Tobacco [JSE:BTI] shed 2.21% and 2.07% respectively.

The JSE All-Share Index eventually closed 0.16% firmer, while the JSE Top-40 Index gained 0.43%. The Resources Index closed 0.35% weaker; however, the Industrials and Financials Indices managed to record gains of 0.3% and 0.68% respectively.

The rand strengthened significantly against the greenback, mainly due to the US dollar easing against a basket of major currencies. The local unit peaked at a session high of R12.31/$ before it retraced marginally to trade at R12.37/$ at 17.00 CAT.


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