JOHANNESBURG Feb 1 South African shares tracked
global stocks higher on Friday as platinum producers such as
Impala led the benchmark index to briefly touch a
Platinum shares have been on the back foot but optimism in
the sector was lifted following a Lonmin trading
statement that production in the last quarter of 2012 had
Johannesburg's All-Share index rose 0.29 percent to
40,601.09 and the Top-40 added 0.32 percent to
36,219.07. The blue-chip index had earlier rallied to 36,391.76,
its highest level on record.
"The market is strong again today after a couple of weakish
days. We've got upward momentum, it looks like the market wants
to continue," said Rigardt Maartens, portfolio manager at PSG
Impala Platinum closed 2.9 percent higher at 167.17 rand.
Anglo American Platinum, the world's top producer of
the precious metal, followed with a 2.3 percent rise to 448.09
rand. Lonmin extended gains with a 1.6 percent gain to 51.38
Logistics firm Grindrod rose to a 2-year high
after flagging full-year earnings likely increased by as much as
35 percent. The shares climbed 8.2 percent to 17.95 rand.
Dairy foods maker Clover was the worst performer on
the All-Share index, slumping 7.7 percent after warning that
strikes and high fuel costs had hurt first-half earnings.
Provisional bourse statistics show that 161 million shares
were traded. Advancers outpaced decliners 167 to 130.
(Reporting by Helen Nyambura-Mwaura; Editing by Ed Stoddard)