VIDEO: Tech market watch - 3 August
- Published on 03 August 2012
South Africa's Johannesburg Stock Exchange (JSE) achieved record highs this week by surpassing the 35,000 points range.
One company that has been riding this wave is electronics listed South Ocean Holdings, which has subsidiaries that manufacture electrical cables and lighting products.
This share was up over 6% in trade yesterday, touching R1.65 per share. Buoyant buying of South Ocean's share has been as a result of the company's positive results for the six months ending June 2012. The firm's headline earnings per share rose 8.3% to 11.7cents, while its operating profit for the period climbed 6.4% to R32 million.
IT Services firm Gijima, though, has failed to capitalise on gains made across the board on the JSE this week, as the company's share price has fallen over 8% in trade over the last seven days to around 41cents per share. Gijima has lost a number of key contracts this year, while it has also retrenched staff to cut costs.
Watch the market report video below. (Video recorded on 2 August, 2012.)