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Absa extends gains after Barclays deal

Dec 07 2012 12:11
Reuters

Company Data

BARCLAYS AFRICA GROUP LIMITED [JSE:BGA]

Last traded 141
Change -6
% Change -4
Cumulative volume 2442986
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

FIRSTRAND LIMITED [JSE:FSR]

Last traded 53
Change -1
% Change -2
Cumulative volume 8496028
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 166
Change -4
% Change -2
Cumulative volume 2949183
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Absa to buy Barclays Africa for R18bn

 

Johannesburg - Shares of Absa Group [JSE:ASA] extended gains after the bank said it would buy Barclays Africa's operations in a R18.3bn deal. 

Absa's purchase of Barclays African assets gives it a toehold on the continent, opening up a new lucrative market at which it can compete against bigger rivals such as Standard Bank Group [JSE:SBK] and FirstRand [JSE:FSR].

Absa shares are up 3.02% at R154.01 after soaring more than 5% on Thursday.  

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