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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 tracked world markets lower at the
opening on Tuesday, with softer commodity prices also weighing on the local bourse.
Asian stock markets are lower amid fresh concerns about possible limits on Chinese bank lending. European stock markets may catch a bit of the Wall Street bounce overnight, but are likely to open mostly lower, Dow Jones Newswires reported.
At 09:17 the JSE all share index was down 0.82%, with resources off 1.35%, platinum miners 1.51% weaker and gold miners declining 1.67%.
Banks declined 0.69%, financials were off 0.55% and industrials moved 0.41% lower.
The rand was bid at R7.63 to the dollar from R7.55 when the JSE closed on Monday.
Gold was quoted at $1 095.34 a troy ounce from $1 096.46 at the JSE's last close, and platinum was at $1 530/oz, from $1 546/oz the bourse's previous close.
A local equity trader said the decline was in line with global bourses and lower commodity prices. He said players would be watching the outcome of the interest rate decision later. South Africa's repo rate is expected to remain unchanged at 7.0%,
according to a survey of leading economists by I-Net Bridge.
However, two of the nine economists hold out hope that a cut of 50 basis points could be in the offing when Gill Marcus makes her second decision as central bank governor. One economist in the survey feels this will be the first real opportunity
for Marcus to show her hand.
- I-Net Bridge