The JSE pushed higher for the second consecutive session on Tuesday as the corporate earnings reporting season gathered momentum, providing a short-term boost to the local equity market. The all share was up 0.61% to 55,786.70 points at lunchtime, as resources gained 1.21% following BHP’s announcement that it had tripled its final dividend. The stronger copper price — which rallied to fresh 2014 highs of $6,619 per tonne — boosted diversified resources in particular. Gold and platinum miners, however, bucked a trend, thanks to a relatively stronger dollar that weighed on underlying metal prices. Retail stocks were in demand after sector bellwether Shoprite reported year-end results, which investors broadly cheered. Earlier, Africa’s biggest grocery retailer reported a 12% rise in full-year profit to R5.4bn. Insurance stocks and banks exhibited a slightly positive bias as the rand oscillated around R13.30/$. Global catalysts were few and far between as markets awaited a gathering of ...
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