{"id":7344,"date":"2012-01-24T21:08:06","date_gmt":"2012-01-24T19:08:06","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-stocks-pause-after-record-run\/"},"modified":"2012-01-24T21:08:06","modified_gmt":"2012-01-24T19:08:06","slug":"s-africa-stocks-pause-after-record-run","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-stocks-pause-after-record-run\/","title":{"rendered":"S.Africa stocks pause after record run"},"content":{"rendered":"

\t\t<\/span><\/p>\n

JOHANNESBURG<\/span> Jan 24 (Reuters) – South African stocks
\ntook a breather after five straight record highs on Tuesday,
\nedging down as concerns over Greece’s debt deal prompted
\ninvestors to cash in Standard Bank and other recent
\ngainers.<\/span><\/p>\n

<\/span><\/p>\n

After a flat 2011, Johannesburg’s All-share index –
\nthe widest measure of South African stock performance – has
\ngained nearly 6 percent this year, helped by renewed demand for
\nriskier emerging markets.<\/p>\n

<\/span><\/p>\n

But after the index posted record closing highs in the last
\nfive sessions, investors have cautioned that stocks may have
\nrisen too far too quickly.<\/p>\n

<\/span><\/p>\n

“From a technical perspective, we we rallied to oversold
\nlevels in the recent days. All we’re seeing now is a bit of
\nhealthy profit taking,” said Bernhard Grobler, head of
\nstockbroking at Investec.<\/p>\n

<\/span><\/p>\n

“I think it would be premature to say the we have seen the
\nbottom of the euro zone debt crisis, things can still go any
\nwhich way. There’s still a lot uncertainty over whether Greece
\nwould default.”<\/p>\n

<\/span><\/p>\n

The All-share gave up 0.61 percent to 33,733.46. The index
\nhit a lifetime high of 33,949.41 in the previous session, and is
\ncurrently trading at an average of 13.5 times earnings, which
\nmakes South African equities roughly as expensive as U.S.
\nrivals.<\/p>\n

<\/span><\/p>\n

The benchmark Top-40 index closed down 0.6 percent
\nto 30,176.77, after briefly touching its highest since mid 2008.<\/p>\n

<\/span><\/p>\n

News that euro zone finance ministers had turned down an
\noffer by private creditors to restructure their Greek debt
\nincreased concerns about a potential default.<\/p>\n

<\/span><\/p>\n

Recent gainers, such as banks, were hit by selling.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG Jan 24 (Reuters) – South African stocks took a breather after five straight record highs on Tuesday, edging down as concerns over Greece’s debt deal prompted investors to cash in Standard Bank and other recent gainers. After a flat 2011, Johannesburg’s All-share index – the widest measure of South African stock performance – has […]<\/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-7344","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\/7344","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=7344"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7344\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}