/ 21 May 2001

SA STOCKS RISE ON MINERS

THE South African bourse sprinted to a record high on Thursday powered by strong overseas markets and a firmer gold price, dealers said. Shortly after the open the all-share index had surged 2.02% to 9,456.6 on brisk demand across the board, dealers said. The index has risen around 36% from levels seen in April 2000. On Wednesday the all-share index touched an intra-day record high of 9,289.7 before closing 2.08% higher at 9,276.2. Miner Anglo American surged ahead, adding 2.75% or 380 cents to R142.20 as Friday’s vote on an Anglo-led takeover bid for diamond miner De Beers drew nearer. The resources index notched up 2.37%. IT firm Dimension Data hopped up 4.52% or 170 cents to R39.30, propelled by the blue-chip Dow which moved above the psychologically key 11,000 mark to its highest level in eight months. The South African IT index surged 3.96%. Didata peer Datatec continued its steep rise off last week’s year-lows, adding eight percent to 16.75 rand. – Reuters