* Top-40 index up 0.27 pct
* All-share index up 0.28 pct
JOHANNESBURG, March 26 (Reuters) – South African stocks
ended slightly higher on Monday, tracking an upbeat mood in
global markets, but investors refrained from making large moves
ahead of domestic interest rate verdict later in the week.
The central bank will announce on Thursday its decision on
interest rates, with most economists expecting the bank to keep
the number on hold at 5.5 percent.
“The interest rate decision, while it is expected to be in
line, could be an major catalyst for the market,” said Michele
Santangelo, a portfolio manager at Newstrading.
Market players will be watching to see if the bank takes a
hawkish stand on inflation, which breached the central bank’s
3-6 percent target in November and has been above the band since
then.
They are also watching for signs of monetary easing in the
United States that is expected to boost markets in several parts
of the world, including South Africa.
The JSE Top-40 index gained 0.27 percent to
29,796.56 and the broader All-share index was 0.28
percent higher at 33,664.46.
Vodacom featured on the gainers’ list, up 1.2
percent to 105 rand, after brokerage house Credit Suisse raised
its price target on the mobile phone operator to 105 rand from
95 rand.
Continued…
