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JSE again stymied by glitch

Jul 27 2010 11:42

Company Data

Mtn Group [JSE : MTN]

Last traded R135.60
Change R1.35
% Change 1.01%
Cumulative volume 4.05m
Market cap R255.58bn

Last Updated: 13/02/2012 at 17:42. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - The Johannesburg Stock Exchange halted equity trade on Tuesday due to a technical problem, the second time this month that Africa's biggest bourse has been forced to suspend or delay trade.

A spokesperson for the JSE said the bourse operator was still investigating the nature of the problem and declined to comment further.

The latest technical glitch comes as the JSE has been looking to court more overseas investors and market itself as a gateway to Africa's fast-growing capital markets.

Foreign investors have bought a net R23.9bn of equities so far this year, according to the JSE's latest data.

"Everything's come to a grinding halt, we're not really sure what's going on," said Mitchell Gannaway, a trader at Thebe Securities.

"It's a bit unfortunate. What's this, the second time in a month?

Earlier this month equity trading was delayed for 90 minutes due to a network problem. That problem was due to the JSE's overseas network link, which is managed by MTN Group [JSE:MTN], Africa's biggest wireless phone operator.

It was not immediately clear whether Tuesday's suspension was caused by the same problem and no one was immediately available for comment at MTN.

In September 2008 the JSE halted trade for several hours due to connectivity problems. In March of this year its regulatory news service failed to update, also for several hours.

  - Reuters

 
 
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