The JSE edged higher on Tuesday, supported by a handful of stocks that, in turn, were driven by corporate earnings and related news. Mr Price was the stand-out performer among blue-chip shares, even as the retailer reported its first annual drop in headline profit in 16 years. IG SA market analyst Shaun Murison said that although Mr Price suffered a 10.4% drop in full-year headline earnings per share, the second half of its financial year showed an improvement. "The extremely cash-generative nature of the business has seen the final dividend maintained, which looks to have appeased investors for now," Murison said. The rally in Mr Price’s shares rubbed off onto the retail sector, which has been under pressure throughout May. Other stocks in the broader industrial sector, including Pioneer Foods, rebounded after a sharp fall over the past week during which the food producer released its interim financial results. Commodity shares were fairly mixed, but pressure mounted for Lonmin aft...
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