South African stocks bounced on Thursday, led by paper producer Sappi, as investors gained confidence from an upswing in global markets.
The Johannesburg Top-40 index of blue-chip stocks gained 1.75 percent to 23,071.80 points while the All-share index added 1.63 percent to 25,662.31 points, recovering from losses on the day before.
So far this year, the blue chip index has gained 2.1 percent.
Read more at Reuters South Africa
Showing posts with label South African Stocks. Show all posts
Showing posts with label South African Stocks. Show all posts
Thursday, March 15, 2007
Wednesday, March 14, 2007
S.African stocks slide, Mittal biggest loser
South African stocks continued their slide on Wednesday, following on weaker global equities, with losses led by steel manufacturer Mittal, which fell over 4 percent.
"The sell off started yesterday and has continued today, across the globe there was a sell-off, it was nothing stock specific," a Cape Town-based trader said.
The Johannesburg Top-40 index of blue-chip stocks slid 2.46 percent to 22,674.28 points while the All-share index dropped 2.33 percent to 25,250.06 points.
Mittal -- a unit of the world's top steel group -- was the biggest decliner among the top 40 blue chips, down 4.78 percent to 109.50 rand.
Read more at Reuters South Africa
"The sell off started yesterday and has continued today, across the globe there was a sell-off, it was nothing stock specific," a Cape Town-based trader said.
The Johannesburg Top-40 index of blue-chip stocks slid 2.46 percent to 22,674.28 points while the All-share index dropped 2.33 percent to 25,250.06 points.
Mittal -- a unit of the world's top steel group -- was the biggest decliner among the top 40 blue chips, down 4.78 percent to 109.50 rand.
Read more at Reuters South Africa
Monday, March 5, 2007
S.African stocks slide to lowest level in six weeks
South African stocks spiralled down to the lowest levels in six weeks on Monday, hit by a global rout in stocks and tumbling metals prices.
After a one-day respite on Friday when stocks bounced, the bourse got pummelled again on Monday on worries about growth in China and the United States.
"This is just across the board selling. It is not a stock specific story, this is a global equities story. Guys are just like rabbits in the headlights at the moment," Tubby Goodwin at Investec Securities said.
The JSE Top-40 blue chip index slid 2.5 percent to 22,416.21 points, the lowest since January 19, while the broader All-Share index shed 2.51 percent to 24,919.46 points.
The Top-40, which had gained 7.6 percent since the start of the year before the slide began last Tuesday, is now down 0.8 percent.
Read more at Reuters South Africa
After a one-day respite on Friday when stocks bounced, the bourse got pummelled again on Monday on worries about growth in China and the United States.
"This is just across the board selling. It is not a stock specific story, this is a global equities story. Guys are just like rabbits in the headlights at the moment," Tubby Goodwin at Investec Securities said.
The JSE Top-40 blue chip index slid 2.5 percent to 22,416.21 points, the lowest since January 19, while the broader All-Share index shed 2.51 percent to 24,919.46 points.
The Top-40, which had gained 7.6 percent since the start of the year before the slide began last Tuesday, is now down 0.8 percent.
Read more at Reuters South Africa
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