Monday, March 12, 2007

S.African stocks tick higher, telecoms in favour

South African stocks finished barely firmer on Monday as investors bought up telecoms firms like MTN, but jitters returned about the so-called yen carry trade.

The Johannesburg Top-40 index of blue-chip stocks edged 0.31 percent higher to 23,406.70 points, well off its intraday peak, and the wider All-share index added 0.34 percent to 26,012.12 points.

The Top-40 index has gained 3.5 percent so far this year, but is 3.6 percent off a record peak touched last month.

Read more at Reuters South Africa

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