/ 22 September 1999

FOOTSIE LIFTS OLD MUTUAL

SHARES in Old Mutual rose in brisk dealings in Johannesburg on Monday, its first day in London’s FTSE100 index, as the life insurer played catch up with the gains it made on Friday in London. By 1045, Old Mutual’s shares listed in Johannesburg were up 25c or just short of 2% at R13,05 in volume of more than 2-million shares. It was the biggest trader by value, turning over R100-million. Old Mutual was the most active stock on the London Stock Exchange on Friday, rising 7.6% in volume of 145m shares after a burst of late buying ahead of the company’s entry into the FTSE 100. On Monday it dipped half a percent.