/ 13 August 2001

DIDATA DIES A LITTLE MORE

SHARES in Dimension Data dived 7,7% early on Friday in Johannesburg, in a catch-up from Thursday’s 12% losses in London, when the South African bourse was closed for a holiday. Didata shed more than a rand in early trade to a fresh four-year trough of R12,50, but by 0839 GMT gains in European tech stocks helped trim its Johannesburg losses to 3,3% at R13,10, in a slightly weaker overall market. In London, Didata was 4,25% stronger at 110 pence, outperforming a 1,8% rise in European tech stocks. Analysts said Didata was being weighed down by a 6,7% drop in Cisco — which makes gear to power the Internet — to $17,98 on Wednesday after it failed to reassure the market that the bottom of the tech slowdown was at hand. Cisco has since regained some ground to $18,29. Didata is Cisco’s biggest partner worldwide, relying on reselling Cisco equipment for a large chunk of its business. – Reuters