{"id":9111,"date":"2012-03-20T03:20:35","date_gmt":"2012-03-20T01:20:35","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africa-stocks-flat-as-banks-sink-amplats-shines\/"},"modified":"2012-03-20T03:20:35","modified_gmt":"2012-03-20T01:20:35","slug":"s-africa-stocks-flat-as-banks-sink-amplats-shines","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-stocks-flat-as-banks-sink-amplats-shines\/","title":{"rendered":"S.Africa stocks flat as banks sink, Amplats shines"},"content":{"rendered":"

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

* Top-40 index barely changed, edges down 0.01 percent<\/span><\/p>\n

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

* Amplats boosted by Deutsche Bank report<\/p>\n

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

JOHANNESBURG, March 19<\/span> (Reuters) – South African stocks
\nended flat on Monday, as banking stocks like Absa
\nfollowed European peers down on renewed Greek jitters, while
\nAnglo American Platinum (Amplats) jumped after Deutsche
\nBank said it stood to “unlock significant value.”<\/p>\n

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

The blue-chip Top-40 index was barely changed,
\nedging down 0.01 percent to 30,395.53. The broader All-share
\nindex ended down 0.02 percent at 34,214.07.<\/p>\n

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

“As we approach the 30,000 level for the Top-40, some tough
\nsupport begins to be found but if we start breaking through
\n30,000 we can start talking levels close to 29,600 in the short
\nterm,” said George Glynos, managing director at financial
\nconsultancy ETM.<\/p>\n

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

He said this was because 30,000 was an area where the index
\nhad brushed previous lows and found support in January and
\nFebruary.<\/p>\n

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

Amplats, the world’s No. 1 platinum producer and a unit of
\nAnglo American, led the blue-chip pack on Monday,
\ngaining 3.20 percent to 566.72 rand.<\/p>\n

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

Deutsche Bank said on Monday in a research note that Anglo
\nAmerican’s recent announcement that it planned an “operational
\nreview” of Amplats “affords the group an opportunity to
\nrestructure and unlock significant value.”<\/p>\n

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

“We think Amplats can achieve the key goal of mining
\ncompanies – earning more off a lower-cost asset base,” it said,
\nnoting that its options included selling four deep-level mines
\nin the Rustenburg area.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Top-40 index barely changed, edges down 0.01 percent * Amplats boosted by Deutsche Bank report JOHANNESBURG, March 19 (Reuters) – South African stocks ended flat on Monday, as banking stocks like Absa followed European peers down on renewed Greek jitters, while Anglo American Platinum (Amplats) jumped after Deutsche Bank said it stood to “unlock […]<\/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-9111","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\/9111","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=9111"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9111\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}