* Top-40 down 0.06 percent
* All-Share eases 0.09 percent
JOHANNESBURG, June 4 (Reuters) – South African stocks ended
largely flat on Monday, in line with European equities, but
platinum miner surged as investors chased after bargains
following recent sharp losses.
Platinum miner Anglo American Platinum jumped
nearly 3 percent to 480.01 rand and rival Impala Platinum
was 2 percent stronger at 134.23 rand.
Johannesburg’s platinum index fallen nearly 9
percent in the last four weeks.
“The market has been resilient, most of the bad news is
already priced in,” said Greg Davies, an equity trader at
Anglorand Securities.
“Some people feel our market is a bit oversold. There are a
few bargain hunters. The sellers seem to have dried up.”
Investors have been looking for direction from Europe, a
vital trade partner for South Africa, where markets have slumped
due to worries about overwhelming debt among some countries.
The Top-40 index of blue chips edged down 0.06
percent to 29,144.78. The broader All-Share index
finished 0.09 percent lower at 33,076.30.
Continued…
