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/ 8 January 2004

JSE perks up as rand slides

After trading weaker all morning in a lethargic market, the JSE Securities Exchange South Africa (JSE) perked up in noon trade when the rand weakened suddenly — and sharply — against the dollar. Dealers expected more strength from stocks if the rand remained at weaker levels.

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/ 8 January 2004

Raising Spirit on Mars

Nasa is delaying rolling its <i>Spirit</i> rover off the spacecraft that brought it to Mars and on to the Red Planet’s rocky soil in order to give engineers more time to clear its path. The earliest the six-wheeled <i>Spirit</i> will roll on to the Martian landscape is January 14, or about three days later than originally planned.

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/ 8 January 2004

Banking crisis mounts in Zimbabwe

Prices of some commodities, particularly furniture and electrical goods, have started dropping drastically in Zimbabwe, but a crisis in the banking sector continues to hound depositors. Economists say businesses are trying to raise cash to invest on the money market, where interest rates have shot to more than 700%.

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/ 8 January 2004

Woolworths shares lose ground

Shares in South African retailer Woolworths lost ground in morning trade on Thursday after the group released a trading update for the six months to July showing a disappointing performance from its Australian subsidiary and slightly softer-than-expected sales for the Christmas period.