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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 - The JSE extended its earlier gains by midday on
Thursday, tracking positive sentiment in Europe after better than expected
economic data.
Locally, eyes will turn to the Reserve Bank's Monetary Policy Committee (MPC) rate decision
later today.
By
noon local time the JSE all share index had gained 0.97%, as resources added
1.36%, and platinum miners picked up 1.49%. Gold miners garnered 0.36%. Banks
added 0.95%, financials improved 0.71% and industrials found 0.65%.
The rand was bid at R7.51 to the dollar, from R7.52 at the JSE's last close. Gold was
quoted at $1 187.05 a troy ounce from $1 192.93/oz at the JSE's previous
close, while platinum was at $1 517/oz from $1 526.00/oz before.
A
local trader said: "We are tracking positive sentiment in Europe after better-than-expected
data out there. The market also appears to be taking some comfort that the
results of Friday's bank stress test will be positive, helping the current
situation in Europe."
He
noted that eyes would turn to the MPC decision later today.
Dow Jones Newswires reported that US stocks are picked to open sharply higher on Thursday,
tracking gains in European markets.
Looking ahead, initial jobless claims, existing home sales and leading
indicators, are the key data releases. Also, Fed Chairperson Ben Bernanke
is set to speak again for the second of his two-day, semi-annual report in
Washington.
European stocks added sharp gains as investors look ahead to Friday's bank stress test
results and also find comfort in stronger than expected economic data from
the eurozone.
Both the eurozone manufacturing and services PMI's rebounded in July, versus expectations for
a modest decline, says Newedge Group.
Asian shares ended mixed on Thursday as Federal Reserve Chairperson Ben Bernanke's downbeat
assessment of the US economic outlook spooked investors, sending Japanese
stocks lower for a fifth straight session.
The day's
trading began on a weak footing. Wall Street tumbled overnight after Mr. Bernanke,
in a testimony to the Congress, said the economic outlook was
"unusually uncertain," but indicated that no moves to bolster the recovery were
imminent.
- i-Net Bridge