{"id":6986,"date":"2012-01-12T20:36:55","date_gmt":"2012-01-12T18:36:55","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/banks-lead-s-african-stocks-higher\/"},"modified":"2012-01-12T20:36:55","modified_gmt":"2012-01-12T18:36:55","slug":"banks-lead-s-african-stocks-higher","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/banks-lead-s-african-stocks-higher\/","title":{"rendered":"Banks lead S.African stocks higher"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 12 (Reuters) &#8211; South African banks<br \/>\nsuch as fourth-largest lender Nedbank followed their<br \/>\nEuropean counterparts to close higher after a successful Spanish<br \/>\nbond auction generated market optimism and buoyed stocks on<br \/>\nThursday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Spain raised 10 billion euros earlier on Thursday, twice as<br \/>\nmuch as planned at lower yields. Italy also fared well, paying<br \/>\nless than half what it did a month ago to sell one-year bills.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A good bond auction like that is the main reason for our<br \/>\nmarket picking up initially,&#8221; said Byron Lotter, a portfolio<br \/>\nmanager at Vestact Asset Management.<\/p>\n<p><span><\/span><\/p>\n<p>Johannesburg&#8217;s Top-40 index gained as much as 0.94<br \/>\npercent but retraced its steps to close 0.54 percent higher at<br \/>\n29,434.13, after U.S. jobless claims came in higher than<br \/>\nexpected.<\/p>\n<p><span><\/span><\/p>\n<p>The All-share index added 0.55 percent to<br \/>\n33,008.52.<\/p>\n<p><span><\/span><\/p>\n<p>The JSE&#8217;s banking index gained over 1.3 percent<br \/>\nafter Nedbank rose 2.4 percent to 151.10 rand.<\/p>\n<p><span><\/span><\/p>\n<p>Nedbank shares shrugged off news that bigger rival Absa<br \/>\n was dragging it to court over $95 million in losses it<br \/>\nincurred in single stock futures trades.<\/p>\n<p><span><\/span><\/p>\n<p>Absa added 1.8 percent, while fellow competitor First Rand<br \/>\n closed nearly 2 percent stronger.<\/p>\n<p><span><\/span><\/p>\n<p>Construction and mining equipment leasing company Eqstra<br \/>\n surged over 4 percent to 7.71 rand after announcing<br \/>\nthat talks to dispose its mining unit were progressing well.<\/p>\n<p><span><\/span><\/p>\n<p>Clothes and household merchandise retailer Mr Price Group<br \/>\n touched a record high of 86.46 rand after booking a 16<br \/>\npercent rise in third-quarter sales. The stock closed 2.45<br \/>\npercent stronger at 86.30 rand.<\/p>\n<p><span><\/span><\/p>\n<p>Preliminary exchange data showed 167 million shares had been<br \/>\ntraded, but the figure is likely to rise. Another 209.3 shares<br \/>\nwere sold on Wednesday.\t<\/p>\n<p> (Reporting by Helen Nyambura-Mwaura)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Jan 12 (Reuters) &#8211; South African banks such as fourth-largest lender Nedbank followed their European counterparts to close higher after a successful Spanish bond auction generated market optimism and buoyed stocks on Thursday. Spain raised 10 billion euros earlier on Thursday, twice as much as planned at lower yields. Italy also fared well, paying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6986","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6986"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6986\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}