* Top-40 rises 1.16 percent to 30,508.18
* All-share up 1.11 percent at 34,671.00
By Tiisetso Motsoeneng
JOHANNESBURG, July 27 (Reuters) – South African stocks
notched up their fourth straight day of gains on Friday, pushing
the broader index back near record territory as investors
worldwide picked up shares and other risky assets on renewed
hopes over the euro zone debt crisis.
The broad JSE All-share index climbed 1.11 percent
to 34,671.00, not far from its 34,808.92 record scaled on June
20. The benchmark Top-40 index added 1.16 percent to
30,508.18.
“The direction is still being dictated by what’s happening
in Europe and the sentiment from there has been buoyant,” Barend
Saayman, a trader at PSG Securities said.
“We are pushing closer to the previous highs, a sustained
break above the previous high could help the upside momentum,”
Saayman said.
World stocks rose on Friday on growing expectations of
European Central Bank action to tackle high borrowing costs.
Gold producers did well as the precious metal held near a
3-week high.
Continued…
