South Africa Stocks Rise With Risk-On Sentiment Boosting Anglo
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South Africa’s main stock index rose 0.8% as of 10:31 a.m. in Johannesburg, the biggest gain since Oct. 12, as increased appetite for riskier assets lifts miners. Diversified mining giant Anglo American Plc climbed 1.9% and was among the biggest contributors of index points to the benchmark.
Friday’s gains extended the weekly advance in South African stocks to 0.5%. Investors remained finely tuned into developments around a U.S. stimulus package. While House speaker Nancy Pelosi signaled optimism on a deal with the administration, opposition remains in the Republican-controlled Senate, making a pact before the election less likely.
An index of mining stocks rose 0.8%, with Exxaro Resourcecs Ltd. gaining 2.8%, while Glencore Plc was up 1.8%.
- NOTE: Citi Recommends Miners, Chinese Stocks to Play China’s Recovery
- Luxury retailer and market heavyweight Richemont snapped two days of declines to rise 1.5%
- Food and drug sellers were up 1.7%, while general retailers gained 1.6%
- Clicks Group Ltd. +7.5%, Bid Corp Ltd. +1%, Dis-Chem Pharmacies Ltd. +2.6%, Spar Group Ltd. +0.4%
- Foschini Group Ltd +3.4%, Mr Price Group Ltd. +2.1%, Truworths International Ltd. +2.2%, Woolworths Holdings Ltd., Motus Holdings Ltd. +1.9%, Pepkor Holding Ltd. +1.4%, Massmart Holdings Ltd. +1.2%
- NOTE:Clicks of South Africa’s CEO Sees ‘Hockey Stick’ Online Growth
- Old Mutual Ltd. +4.5%, Sanlam Ltd. +2%, Discovery Ltd. +3.4%, Momentum Metropolitan Holdings +1.4%, Liberty Holdings Ltd. +1.9%
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