News Column

Market Report

July 1, 2014

stocks rose yesterday even though resources shares |came under pressure as Anglo American Platinum said it was reviewing options for its Rustenburg operations after the crippling strike.

Amplats was down 0.31 percent to R461.07. Rival Impala Platinum, which was also hit by the strike, ended 1.04 percent lower at R106.88.

Joburg's Top-40 rose 0.7 percent to 45 969 and the All-share index gained 0.63 percent to 50 945.

Generic drug maker Aspen |Pharmacare was the top gainer of the Top-40 index, rising nearly 4 percent to R298.89 after it said |comments made during a |pre-closed period conference call with investors were "misconstrued".

The company's shares fell |9 percent last week from an intra-week peak of R318.36 on Tuesday amid media reports that management had "guided for a softer second half in South Africa".

The firm said the remarks were consistent with previous management statements.

Trade was relatively slow with about 132 million shares changing hands, according to preliminary bourse date. Advancers outpaced decliners, 202 to 130. - Reuters

Cape Argus

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Source: Cape Argus (South Africa)

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