The JSE was holding up relatively well on Monday at lunchtime, with industrial stocks in particular providing impetus. However, resources stocks lagged, despite relatively higher commodity prices. The all share index was up 0.57% to 54,473.4 points, as industrials rose 1.05%, countering the effect of platinum miners, which dropped 4%. Naspers and Vodacom pushed to record highs, helping the industrial sector, which also benefited from rising momentum in retail stocks, following a surprise 25-basis-points interest-rate cut last week by the Reserve Bank. By contrast, platinum shares were partly affected by Anglo American Platinum’s first-half results, released earlier. The world’s largest platinum miner swung into an after-tax loss of R1.3bn in the six months to June, from a profit of R1.5bn in the year-earlier period. Hogging the spotlight was PPC, whose shares slumped as much as 10%, following the resignation of its CEO Darryll Castle, less than three years into the job. "This is a b...
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