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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 172.79
Change 1.59
% Change 0.01
Cumulative volume 499792
Market cap 146.48bn

Last Updated: 29/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

FIRSTRAND LIMITED [JSE:FSR]

Last traded 44.30
Change 0.53
% Change 0.01
Cumulative volume 5121537
Market cap 249.76bn

Last Updated: 29/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 149.30
Change 0.3
% Change 0.00
Cumulative volume 1393627
Market cap 241.60bn

Last Updated: 29/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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Barclays revamp could mean staff cuts

Wendy Lucas-Bull to chair Absa

Absa, Barclays talks still under way

Absa to take Tafakul to Africa

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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