* Top-40 up 0.66 pct to 29,864.84
* All-Share gains 0.55 pct to 33,816.96
By Tshepo Tshabalala
JOHANNESBURG, April 12 (Reuters) – Share prices of South
African companies such as Assore closed firmer after
thin sideways trading for much of Thursday and investors’ eyes
trained on U.S. and European markets for direction.
South Africa’s resource-heavy bourse has many foreign
investors whose activity moves it largely in tandem with global
equity market trends.
Base metal miner Assore jumped over 4 percent to 254.99 rand
after brokerage Macquarie raised its price target to 280 rand
and gave it an ‘outperform’ rating.
The Top-40 index that tracks blue chips rose 0.66
percent to 29,864.84 and the broad based All-Share
gained 0.55 percent to 33,816.96.
“We have been stuck in this band for three months now,” said
Brett Duncan, equities derivative trader at SBG Securities,
referring to a range between 29,000 and 31,000 on the Top-40.
“So you are going to find a little bit of buying on the dips
and selling into the strengths with no real trend.”
Continued…
