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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 traded
sideways in the midday session on Friday, with an eye on month end.
At 12:00 the JSE all share index had gained 0.02%, with resources down
0.53%. Platinum producers edged 0.43% lower and gold counters slipped 0.13%
lower.
Banks added 0.10%, financials were flat, up 0.03%, and industrials were
0.54% higher.
The rand was bid at 7.67 to the dollar from 7.76 when the JSE closed on
Thursday. Gold was quoted at $1 045.27 a troy ounce from $1 040.45 at
the JSE's last close, and platinum was at $1 327.50/oz, from $1 334/oz
at its previous close.
A local trader said: "There is very little action at present, stocks are
trading sideways with very little direction. Locally stocks are probably
biased towards the positive at month end."
Dow Jones Newswire reports that US stocks are called to open lower on
Friday, in a modest pullback after the strong rally led by financial stocks
Thursday, said David Morrison at GFT. He called the DJIA down 30 points at
9 932 and the S&P 500 down 3 at 1 063.
While the strong GDP number gave traders a good excuse to buy stocks
after four consecutive weak sessions, there is still concern that without
the stimulus programmes, the US would still be in recession," added Morrison.
Personal income and employment cost index are at 12:30 GMT.
Chicago PMI
and University of Michigan consumer sentiment are at 13:45 GMT and 13:55 GMT
respectively.
- I-Net Bridge