* Top-40 index up 0.08 pct
* Retailers top gainers’ list
* Miners fall as metals falter
JOHANNESBURG, Jan 9 (Reuters) – South African shares
ended a choppy, thin session a touch higher on Monday, helping
the benchmark index notch up its second straight day of gains
but it continues to look vulnerable to risk aversion due to debt
problems in the euro zone.
Retailers topped the advancers’ list, with Richemont
posting its second positive session after the luxury
goods group announced the opening of its largest Montblanc store
in China, a fast-growing luxury goods market.
The bourse was also bolstered by views that China could cut
its bank reserve requirements but traders said the underlying
mood was bearish due to scepticism about the ability of European
policymakers to resolve the region’s debt crisis.
The benchmark JSE Top-40 blue-chip index ended up
0.08 percent higher at 29,231.92 and the broader All-share index
gained by the same margin to 32,774.83.
“There are views that China could cut its reserve
requirements. Although that is positive news for the market in
the short term, it does suggest that growth could be slowing,”
said Betzy Yang, a trader at Legae Securities.
Among equity movers, Richemont was the top percentage gainer
on the benchmark index, rising 1.98 percent to 42.83 rand.
Clothing retailer Truworths added 1.7 percent to 79
rand and food and clothing merchant Woolworths was 1.9
higher at 40.70 rand.
Continued…
