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An artist’s impression of the Waterfall Corner Retail Centre under construction in Sunninghill, Sandton.
An artist’s impression of the Waterfall Corner Retail Centre under construction in Sunninghill, Sandton.

Christmas cheer lifts JSE retailers

RETAILER NEWS - Dec 9th 2016, 11:14

The JSE’s general retailers gained 4% on Thursday as punters bet on strong Christmas sales. But mixed signals from Asian markets on Friday morning made it unclear its the bourse could end the week on a high note. 

Possibly thanks to an uptick in consumer confidence reported on Thursday morning, Massmart’s share price jumped 7.68%, Mr Price 6.38%, Truworths 5.22% and, The Foschini Group closed 5.14% higher.

Miners also enjoyed a good day, with the JSE’s index of its ten biggest resources groups gaining 2.7%. Glencore rose 5.15%, Anglo American 4.04% and BHP Billiton 3.21%.

Retailers and miners helped the JSE’s all share index gain 2.16% to 50,543 points on Thursday — which is still well below its 55,188 point peak reached on April 24, 2015.

Several US and Japanese general market indices, on the other hand, are now at fresh records.

A rally by Nintendo following the launch of its Super Mario Run smartphone game helped Tokyo’s Nikkei 225 index gain 1.25%.

Hong Kong’s Hang Seng index, on the other hand, fell 0.28%. Casino shares crashed after government halved the amount of cash mainland Chinese gamblers are allowed to withdraw from ATMs in the gaming city of Macau.

The European Central Bank on Thursday announced it would reduce its monthly asset buys to €60bn from €80bn, but extend purchases to December from March — three months longer than generally expected.

This helped the Euro Stoxx 50 index gain 1.39%. Deutsche Bank’s exchange-traded note which tracks this index rose 2.75% to R47 on the JSE on Thursday.© Business Live MMXVI 

Read more about: retail | markets | jse

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