* Top-40 rises 0.4 pct to 29,977.28
* All-share gains 0.4 pct 33,959.87
JOHANNESBURG, June 15 (Reuters) – South African shares rose
0.4 percent on Friday as global equities rallied on talk of a
joint effort by world central banks to ease any market upset
after Greece’s election this weekend.
Central banks from Tokyo to London are stockpiling their
ammunition in preparation for any turmoil from the Greek poll as
tension rises about how to manage the euro zone’s debt crisis.
“The big thing is everybody will wait and see what happens,
but most of the central banks in the world are prepared to come
in and help if there is any trouble,” said Malcom Moller, an
equities trader at Vunani.
Officials from the G20 nations, whose leaders are meeting in
Mexico next week, say numerous central banks are preparing to
take steps to stabilise financial markets – if needed – by
providing liquidity and prevent any credit squeeze.
The Top-40 index closed up 0.44 percent to
29,977.28 and the All-Share rose 0.4 percent to
33,959.87.
Johannesburg shares of world No. 3 platinum producer Lonmin
were the biggest blue-chip gainers, closing 4.3 percent
higher after brokerage Goldman Sachs raised its price target for
the company, which has its primary listing in London.
“They are not as negative as they have previously been on
the stock,” said Roche Kilian, a trader at Thebe Stock Broking.
The platinum price has also been gaining this week in
line with a broader rally in precious metals.
Continued…
