South African stocks higher

South African stocks edged higher on Thursday, with platinum producers such as Impala Platinum gaining ground on hopes that a five-week industry strike might soon end. Shares of Massmart, the South African unit of global retailer Wal-Mart, rose more than 4 percent after the company slightly beat forecasts with a one-third rise in full-year profit.
But even as Massmart's shares jumped, analysts said there was no indication consumer spending in Africa's top economy is likely to improve soon. The benchmark Top-40 index inched up 0.02 percent to 42,544.63. The broader All-Share index edged up 0.07 percent to 47,049.79. Platinum miner Impala Platinum surged 6.3 percent to 119.03 rand.