South African stocks inch up, Sasol offsets platinum gains
Shares in the blue-chip heavyweight Sasol fell 3.9 percent to 450.54 rand, making it the biggest decliner on the benchmark Top-40 index.
The petrochemicals company often tracks the price of oil because it sells its synthetic fuel at the same price as firms that import and refine crude oil.
"A lot of people might have been spooked by the fact that yesterday's crude oil inventory from the U.S. was lower than expected. The volatility in the oil price is what is driving Sasol," said Kyle Dutton, a broker at Mercato Financial Services.
The JSE Top-40 index barely moved, adding 0.09 percent to 45,450. The broader All-share index was up 0.11 percent at 51,688.
On the upside, shares in platinum producers jumped with Anglo American Platinum and Impala Platinum leading gains by 4.38 percent and 3.8 percent respectively.
Trade was active with 211 million shares changing hands, compared to last year's daily average of 185 million shares.
Комментарии