Retailers lift JSE on strong sales data
STOCKS inched into the black yesterday, lifted by retailers on strong sales data.
The benchmark JSE Top40 index rose 0.15 percent to 46 113.55 points, while the broader all share index advanced 0.22 percent to 52 933.28 points.
Consumer goods firm Tiger Brands was the biggest gainer among the blue chips, followed by retailer Woolworths Holdings, after the statistics agency released better than expected retail sales for November. Tiger Brands were up 3.57 percent
at R406.90 and Woolworths gained 2.64 percent to R73.40.
Shoprite advanced 2.13 percent to R180.26, supported by positive sentiment after earlier reporting a 14 percent rise in half-year sales, said Independent Securities trader, Ryan Woods.
“The market liked Shoprite’s trading update and investors see some long term potential in Woolworths,” he said.
Impala Platinum inched up 0.41 percent to R49.50. The company had shut one of the 11 shafts at its Rustenburg mine after one worker died in a rock fall yesterday, a company spokesman said.
Trading on the bourse was below par with 244 million shares changing hands, compared with the last year’s daily average of 296 million.