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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
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - Stocks aligned
themselves in the black on Friday morning, tracking positive sentiment in
Asia and following good performances on a micro and macro front in the US.
At 09:15 the JSE all share index had gained 0.34%, with resources
picking up 0.52%. Platinum producers edged up 0.46% and gold counters
garnered 0.46%.
Banks added 0.47%, financials were 0.30% higher and industrials were up
0.28%.
The rand was bid at 7.73 to the dollar from 7.76 when the JSE closed on
Thursday. Gold was quoted at $1 047.43 a troy ounce from $1 040.45 at
the JSE's last close, and platinum was at $1 331/oz, from 1 334/oz at
its previous close.
A local trader said: "We saw some good numbers from the US, particularly
the GDP which confirmed markets' assumptions of green shoots."
"Both macro and micro, that is company and economic data in the US have
seen some positive results and it appears that international markets are
concentrating on the positive stuff."
Dow Jones Newswire reports European stocks are set to open higher on
Friday, with stellar performances on US and Asian markets lending support,
following better-than-expected US 3Q GDP figures.
Ben Potter at IG Markets calls the FTSE 100 up 26 points at 5164. Still,
whether the pace of the rally can be sustained remains to be seen, says
Potter. "GfK consumer sentiment data overnight for the UK showed a better
than expected reading so attention will now turn to ... German retail sales
data (at 07:00 GMT). Also, euro zone CPI and unemployment data releases are
both due at 10:00 GMT.
- I-Net Bridge