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Article: South Africa : S.Africa s stocks climb on metals, banks; rand firms.
- Article from:
- TendersInfo
- Article date:
- November 10, 2009
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Byline: datta03
South Africa's blue-chip stocks jumped on Monday, lifted by banks and as higher commodity prices drove miners up, while also helping the rand extend last week's gains to a two-week high.
The Johannesburg Top-40 index rose 1.68 percent to 23,729.60 points, while the broader All-Share index gained 1.59 percent to 26,345.01 points.
"Banks have been lagging for a while now. I think the guys have realised that banks are looking cheap. The foreigners are underweight on our banks and that's why they are taking them," said Tubby Goodwin, a trader at Investec Securities.
The JSE banking and financial sectors indices rose 3.65 ...