Thursday, 06 September 2012 21:03
Posted by Shoaib-ur-Rehman Siddiqui
JOHANNESBURG: South Africa's stocks rose 2 percent on Thursday, led by battered down miners after the European Central bank unveiled a new plan of a bond-buying program to ease the region's debt crisis, boosting sentiment.
Shares of Lonmin rose more than 5 percent after the platinum producer signed a peace deal with some unions representing workers at strike-hit Marikana mine.
"It's more of a sentiment thing, confidence in the leadership in Europe, looks like it's found and therefore the market can push higher," said Greg Davies, equities trader at Cratos Capital.
"People who've been standing on the sidelines, waiting to invest money in the market may take steps and that should bring fresh buying into our market."
The JSE Top-40 index added 2.03 percent to 31,421.82 and the broader All-share index was 1.8 percent higher at 35,674.73.
ECB President Mario Draghi said Europe's central bank would undertake unlimited, short-dated bond purchase under strict conditions to ...
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JOHANNESBURG: South Africa's stocks rose 2 percent on Thursday, led by battered down miners after the European Central bank unveiled a new plan of a bond-buying program to ease the region's debt crisis, boosting sentiment.
Shares of Lonmin rose more than 5 percent after the platinum producer signed a peace deal with some unions representing workers at strike-hit Marikana mine.
"It's more of a sentiment thing, confidence in the leadership in Europe, looks like it's found and therefore the market can push higher," said Greg Davies, equities trader at Cratos Capital.
"People who've been standing on the sidelines, waiting to invest money in the market may take steps and that should bring fresh buying into our market."
The JSE Top-40 index added 2.03 percent to 31,421.82 and the broader All-share index was 1.8 percent higher at 35,674.73.
ECB President Mario Draghi said Europe's central bank would undertake unlimited, short-dated bond purchase under strict conditions to ...
JOHANNESBURG: South African stocks edged down on Tuesday, with the benchmark Top-40 index giving up 1 percent as platinum miners were hit again by worries about the impact of labour unrest on the sector.
Losses were limited by a rise in FirstRand, after South Africa's second-largest lender said full-year earnings likely rose as much as 27 percent.
Investors have dumped miners in recent sessions on concerns about spreading labour unrest in the industry, following weeks of protest ...
JOHANNESBURG: South African stocks led by resource shares continued to choke on Thursday along with global markets on uncertainty over the prospect for economic stimulus by the US Federal Reserve and falling commodity prices.
Shares of South Africa's third largest gold producer Harmony hit 2-year lows, led the big mining shares lower as it slid over 5 percent.
South Africa's blue-chip Top-40 index dropped 1.28 percent to 31.088.76. The broader All-share index edged down 1.2 percent to ...
JOHANNESBURG: The Johannesburg Stock Exchange has reached record highs despite forecasts of a fall amid the global crisis and deadly strikes at a platinum mine, where police opened fire on strikers.
The JSE's All Share Index rose 0.29 percent on Monday to reach 35,897.69 points -- a historical mark -- while the Top 40 Index also rose 0.26 percent to its best-ever level.
The two indexes of Africa's largest stock exchange have both jumped 12 percent since ...
DUBAI: A Kuwaiti investment firm is alleging that private equity giant Carlyle Group LP sold it a fixed income fund in 2006 without the necessary licence, and is seeking approval for its lawsuit against the US firm to be heard in Kuwait rather than the United States.
The case illustrates some of the potential legal pitfalls which US and European private equity firms operating in the Gulf face. Over the last several years they have flocked ...
JOHANNESBURG: South African stocks ended higher on Thursday as platinum miner Lonmin rose on hopes of stability in the battered sector and as minutes by the US Federal Reserve signalled it may take new measures to boost the world's biggest economy.
Lonmin, whose Marikana mine was the site of bloody clashes between workers that saw 44 people killed last week, recouped some losses from previous sessions and ended up 5.01 percent at 83.80 rand, as situation ...
