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Article: Softer metal prices and global jitters condemn market to four-week low.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- July 27, 2007
CopyrightCOPYRIGHT 2007 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: From REUTERS
Johannesburg - Stocks slid to an almost four-week closing low yesterday as softer metal prices hit mining stocks, and global jitters about the US housing market and high oil prices hurt broader sentiment.
The Top40 index tumbled 1.85 percent to 25 844.39 points - its lowest closing level since June 29. The all share index slid 1.78 percent to 28 585.84 points.
"Blood!" said a trader when asked to comment on the market. "There's no good news. Global markets are lower, metal prices are lower, there are worries about US earnings, the housing market and the consumer. And we haven't seen the end of it yet."
South ...