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.

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Reunert, Altron merge telecom units

South African electronic groups Reunert and Altron won approval from the country's competition tribunal to merge their telecoms cable production units and assets, the firms said on Wednesday.
The merged entity will be jointly controlled by Reunert and Altron, through their respective subsidiaries and their empowerment partners, they said in a statement.

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FTSE flat as telecoms slip, but miners rise

Britain's benchmark index was flat to softer in early trade on Monday, weighed by ailing telecoms stocks although helped by firm oil and mining shares.

Shares in British Telecom dropped 0.9 percent and mobile telecoms group Vodafone lost 0.7 percent as European telecoms suffered after Deutsche Telekom issued its second profit warning in six months

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