Top 40 Hits Record Highs !!! On signs of an improving global economy. South African stocks hit fresh record highs on Wednesday following a rally in markets around the world on signs of an improving global economy, including positive U.S jobs data. Index heavyweights such as media and e-commerce firm Naspers were among the biggest gainers. Naspers, the most valuable company with a primary listing in Johannesburg, gained 3.3% to R 1,331.52. The benchmark JSE Top-40 index advanced 0.9% to 46,888 after earlier rising to just under 47,000. The broader All-Share index gained 0.8% to 51,883. Global stocks were also near record highs, with confidence buoyed by further signs of a recovery in the United States. At least 281,000 new jobs were added in the U.S. private sector last month, according to payroll processor ADP, the strongest monthly gain in 1-1/2 years. Construction firm Aveng bucked the trend, dropping 4.3% after it said full-year earnings fell as much 10%, hit by weak demand from the strike-battered mining industry. The company is also one of the local construction firms hit by the latest strike led by metals union Numsa, which began this week. About 180 million shares changed hands, with 153 stocks advancing while 155 declined. Compiled by : Kgomotso Mohajane
Posted on: Thu, 03 Jul 2014 07:59:52 +0000
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