/ 14 March 1999

SANLAM RALLY UNABATED

A RALLY this month in shares of financial services group Sanlam refused to run out of steam on Friday as the market continued to buy in on expectations of bumper future prospects. Within the first half hour of trading on the JSE, Sanlam shares had jumped another 27 cents or nearly 5% to 597 cents – within a whisker of its issue price of R6 to shareholders last November. Sanlam shares have risen more than 35% this month, with more than half of the gains this week following the release of maiden results on Wednesday. The results were flat as expected but provided an encouraging outlook on future earnings.