STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
1326GMT 25Nov2009
Kenya's Safaricom rises on foreign buying
Shares in Kenya's Safaricom rise more than 5 percent to close at 4.90 shillings ($0.065), buoyed by foreign investor appetite.
Traders say the stock hits a session high of 5.05 shillings, the first time it jumps above its initial public offer price of 5 shillings this year.
'That is the signal that retail investors are back in the game,' says Aly Khan Satchu, an independent trader and analyst.
He says investors are pleased with the firm's first half results which showed good growth in its data business.
(duncan.miriri.reuters.com@reuters.net)
($1=74.60 Kenyan Shilling)
1312GMT 25Nov2009
Murray & Roberts falls after downbeat trading update
Shares in Murray & Roberts fall almost 5 percent as South Africa's biggest construction group forecasts up to a 20 percent decline in first-half profit.
Murray & Roberts is trading 4.73 percent lower 50.34 rand, lagging a slightly higher JSE Mid cap index.
'The concern for Murray & Roberts, and the sector, is that the guys might have priced in too much,' one trader says, adding that the sector's income margins are squeezed as the slow contract flow forces companies to take up less lucrative contracts.
'The initial earnings forecast obviously won't meet expectations.'
(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)
1228GMT 25Nov2009
Mauritius bourse drags as hotels, banks fall
Mauritius blue chips retreat further on Wednesday, weighed by lower hotel and banking shares, with trading thin ahead of the year's end, traders say.
The Indian Ocean island's benchmark SEMDEX index falls for a fourth consecutive day, down 0.44 percent to settle at 1672.80. Hotel group Naiade Resorts drops 2.11 percent to 41.60 rupees, while Sun Resorts and fall 1.35 and 0.73 percent respectively.
Mauritius Commercial Bank and State Bank Mauritius are also decliners.
'As we near the end of the year, people are not taking a position on the market. Foreigners also have not shown a lot of interest for the past two weeks,' says Raj Tapesar, managing director of MCB Stockbrokers.
((Reuters Messaging: richard.lough.reuters.com@reuters.net))
0956GMT 25Nov2009
Miners rise on stronger metal prices
Mining shares rise more than 1 percent, the top performers in early trade, boosted by stronger metal prices compared to a
0.75 percent higher Johannesburg Top
40 index.
The JSE mining index gains 1.39 percent with Lonmin up 1.51 percent at 220 rand and Gold Fields advancing 1.56 percent at 110.70 rand.
BHP Billiton and Harmony Gold rise 1.96 percent to 234.50 rand and 1.57 percent to 81 rand, respectively.
'The commodity prices are up, there's nothing much It's just stronger commodity prices,' says a local trader.
Gold rose above $1,178 an ounce, while spot platinum traded above $1,460 an ounce at 0954GMT.
(Reuters Messaging: phakamisa.ndzamela@thomsonreuters.com)
0956GMT 25Nov2009
Makalani surges, says in talks
Shares in Makalani jump nearly 10 percent as the South African mezzanine financier says it is involved in talks with undisclosed parties that could affect its shares.
Makalani, which is considering several options to delist from the bourse, is trading 9.33 percent higher at 82 rand.
Makalani has said it was considering several options that include selling all assets in its portfolio and accepting a takeover by a third party to wind itself down..
'It's not the most heavily traded stock ... that cautionary announcement has sparked all sorts of speculation about how it will return money to shareholders,' one trader said.
(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)
Keywords: MARKETS AFRICA STOCKSNEWS
STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
1800GMT 26Nov2009
Guinness tugs Ghana bourse lower
The Ghana All Share Index sheds 1.99 points Thursday to close at 5,398.82 points, dragged lower by a 0.01 GH cedi losss in the beverage stock Guinness Ghana Brewery Limited.
The market will be closed Friday for a public holiday.
Analysts say the bearish trend on the bourse, which has lost 48.25 percent so far this year, might continue.
'It has always been the trend over the years for prices to decline towards the end of the year,' Linda Asare, Brokerage Manager of Strategic African Securities told Reuters.
State Insurance Company was the most actively traded on the bourse, accounting for about 60 percent of the 178,846 shares that changed hands.
($1=9267 Ghanian Cedi) Keywords: MARKETS AFRICA STOCKSNEWS (Christian Akorlie; richard.valdmanis@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Stocks on the move Real-time Equity News
1326GMT 25Nov2009
Kenya's Safaricom rises on foreign buying
Shares in Kenya's Safaricom rise more than 5 percent to close at 4.90 shillings ($0.065), buoyed by foreign investor appetite.
Traders say the stock hits a session high of 5.05 shillings, the first time it jumps above its initial public offer price of 5 shillings this year.
'That is the signal that retail investors are back in the game,' says Aly Khan Satchu, an independent trader and analyst.
He says investors are pleased with the firm's first half results which showed good growth in its data business.
(duncan.miriri.reuters.com@reuters.net)
($1=74.60 Kenyan Shilling)
1312GMT 25Nov2009
Murray & Roberts falls after downbeat trading update
Shares in Murray & Roberts fall almost 5 percent as South Africa's biggest construction group forecasts up to a 20 percent decline in first-half profit.
Murray & Roberts is trading 4.73 percent lower 50.34 rand, lagging a slightly higher JSE Mid cap index.
'The concern for Murray & Roberts, and the sector, is that the guys might have priced in too much,' one trader says, adding that the sector's income margins are squeezed as the slow contract flow forces companies to take up less lucrative contracts.
'The initial earnings forecast obviously won't meet expectations.'
(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)
1228GMT 25Nov2009
Mauritius bourse drags as hotels, banks fall
Mauritius blue chips retreat further on Wednesday, weighed by lower hotel and banking shares, with trading thin ahead of the year's end, traders say.
The Indian Ocean island's benchmark SEMDEX index falls for a fourth consecutive day, down 0.44 percent to settle at 1672.80. Hotel group Naiade Resorts drops 2.11 percent to 41.60 rupees, while Sun Resorts and fall 1.35 and 0.73 percent respectively.
Mauritius Commercial Bank and State Bank Mauritius are also decliners.
'As we near the end of the year, people are not taking a position on the market. Foreigners also have not shown a lot of interest for the past two weeks,' says Raj Tapesar, managing director of MCB Stockbrokers.
((Reuters Messaging: richard.lough.reuters.com@reuters.net))
0956GMT 25Nov2009
Miners rise on stronger metal prices
Mining shares rise more than 1 percent, the top performers in early trade, boosted by stronger metal prices compared to a
0.75 percent higher Johannesburg Top
40 index.
The JSE mining index gains 1.39 percent with Lonmin up 1.51 percent at 220 rand and Gold Fields advancing 1.56 percent at 110.70 rand.
BHP Billiton and Harmony Gold rise 1.96 percent to 234.50 rand and 1.57 percent to 81 rand, respectively.
'The commodity prices are up, there's nothing much It's just stronger commodity prices,' says a local trader.
Gold rose above $1,178 an ounce, while spot platinum traded above $1,460 an ounce at 0954GMT.
(Reuters Messaging: phakamisa.ndzamela@thomsonreuters.com)
0956GMT 25Nov2009
Makalani surges, says in talks
Shares in Makalani jump nearly 10 percent as the South African mezzanine financier says it is involved in talks with undisclosed parties that could affect its shares.
Makalani, which is considering several options to delist from the bourse, is trading 9.33 percent higher at 82 rand.
Makalani has said it was considering several options that include selling all assets in its portfolio and accepting a takeover by a third party to wind itself down..
'It's not the most heavily traded stock ... that cautionary announcement has sparked all sorts of speculation about how it will return money to shareholders,' one trader said.
(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)
Keywords: MARKETS AFRICA STOCKSNEWS
STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
1800GMT 26Nov2009
Guinness tugs Ghana bourse lower
The Ghana All Share Index sheds 1.99 points Thursday to close at 5,398.82 points, dragged lower by a 0.01 GH cedi losss in the beverage stock Guinness Ghana Brewery Limited.
The market will be closed Friday for a public holiday.
Analysts say the bearish trend on the bourse, which has lost 48.25 percent so far this year, might continue.
'It has always been the trend over the years for prices to decline towards the end of the year,' Linda Asare, Brokerage Manager of Strategic African Securities told Reuters.
State Insurance Company was the most actively traded on the bourse, accounting for about 60 percent of the 178,846 shares that changed hands.
($1=9267 Ghanian Cedi) Keywords: MARKETS AFRICA STOCKSNEWS (Christian Akorlie; richard.valdmanis@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
