* Top-40 rises 1.59 pct to 30,453.02
* All-share gains 1.41 pct to 34,438.76
JOHANNESBURG, June 18 (Reuters) – South African shares rose
more than 1.4 percent on Monday to hit a six-week high, led by
manganese miner Assore and boosted by a weekend victory
for pro-bailout parties in Greek elections.
Parties supporting a bailout saving Greece from bankruptcy
won a slim parliamentary majority on Sunday, beating radical
leftists who rejected austerity and bringing relief to the euro
zone, which was braced for fresh financial
turmoil.
Europe is a vital export for South African manufactured
goods and minerals, with trouble in the region likely leading to
slowing growth for Africa’s largest economy.
The benchmark Top-40 index rose 1.59 percent to
30,453.02, its highest level since May 3, while the broader
All-Share ended up 1.41 percent to 34,438.76.
“We saw our markets come off to a good start, with bullish
buys due to the outcome of the Greek elections,” said Deryck
Janse Van Rensburg, portfolio manager at BoE Stockbrokers.
“But obviously the euro zone troubles still tend to weigh on
the market and that caused a bit of volatility.”
Assore closed up 5.57 percent at 312.50 rand, while
investment bank and asset manager Investec ended 3.93
percent higher at 48.64 rand.
Continued…
