JSE pushes higher with industrials countering losses in other sectors
The JSE pushed higher on Monday, while world markets appeared uncertain of their direction, with most posting mild gains or losses. Naspers and a handful of other big industrial stocks were the saving grace on the local bourse, as the healthcare sector continued to suffer losses, while telecoms and property stocks also came under pressure. The all share was up 0.44% at 60,393 points by midday, with industrials gaining 1.39%. Property lost 0.78% and resources 0.82%. Naspers continued to its record run, with its shares now eyeing R4,000, having almost doubled in value so far in 2017. "Stocks that double in a year are normally your smaller caps; it is wild to think that a R1-trillion company can double," Vestact Asset Management analysts said in an e-mail note. Naspers’s gains largely followed Chinese internet company Tencent, in which it owns about a third. Investors were also focusing on the last batch of local corporate earnings for the year. Mr Price touched R200 a share for the fi...
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