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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
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May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - Domestic stocks rose, near a 14-month high and notching a fifth straight day of gains, with miners among the top risers on firmer commodity prices.
The JSE Top-40 index of blue chips gained 0.22% to 24 137.22 points, the highest closing level since September 3 2008 and bringing this week's gains to 3.4%.
The broader all-share index closed 0.26% higher at 26 802.07 points.
"The trend has been pushed by the weaker dollar, which has helped gold, oil, copper and all dollar-priced commodities and that in turn has pushed up resources," said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.
Local stocks also rode on above-forecasts earnings results from US companies that have helped sentiment that the world's economy is on the mend.
Miners gained as commodity prices firmed, with copper touching a one-year high, boosting Anglo American, which perked up 2.58% to R291.50. Smaller rival African Rainbow Minerals rallied 4.1% to R161.90.
By 17:48 the rand traded at 7.46 against the dollar, 0.81% softer than its 7.40 close on Thursday.
- Reuters