A handful of big industrial stocks kept the JSE afloat at lunchtime on Monday, outweighing the renewed sell-off in gold and platinum shares, despite steady commodity prices. Naspers’s share price hit record highs, bringing gains to a sturdy 40% so far in 2017, and making the internet and video entertainment group the best-performing share in the top 40 index by a considerable margin. Naspers has largely tracked the strong performance in the Chinese internet group Tencent, in which the South African company – now worth R1.23-trillion – owns 34%. The all share index was up 0.13% to 54,495.7 points, as industrial stocks gained 0.49%. Overall, the local share market looked patchy, from retailers to financial stocks, although Liberty and Transaction Capital stood out as better performers, with the latter expected to release its interim results on Thursday. In Europe, leading stock-market indices showed a similarly mixed performance, following their counterparts in Asia, where Hong Kong’s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.