SA stocks up on Greece hopes

SA stocks up on Greece hopes
Published: 16 February 2015
Johannesburg -SA stocks edged up on Monday after scaling fresh record peaks earlier, tracking global shares which hit five-months highs, with Woolworths extending its rally spurred by solid earnings.

Woolworths climbed 2.2% after it reported a 29% jump in half-year profit on Thursday.

But its 14-day RSI, a momentum indicator tracked by some analysts, has now strayed into overbought territory, a trend which could cap its climb in coming days.

Shares in Impala Platinum shed 0.9% after it warned interim earnings would fall between 45 and 63%.

The world's second largest platinum producer blamed the slow ramp-up from last year's historic five-month strike and an impairment on its Zimbabwe operations.

The benchmark Top-40 index added 0.18% to 46 822. The wider All-share index edged up 0.05% to 52 996 after earlier hitting an historic high of 53 097.

SA stocks also rallied on positive sentiment, with global shares rising to their highest since September as investors were cautiously optimistic euro zone finance ministers would reach a deal to shore up Greece's dwindling finances.
- news24
Tags: JSE,

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