A holiday in some parts of continental Europe is seen aiding the South African rand’s recent strength and the rand is seen trading in a broad range on Monday, traders said.
South African gold stocks marched higher at the open on Monday as the price of the precious metal appeared ready for another rally this week, propping up the bourse in positive territory.
South Africa’s gold producer Harmony Gold and union officials met on Monday to seek an end to a strike at Randfontein gold mine which entered its second full day, a union official said.
French bank Societe Generale said on Monday it planned to close much of its South African commercial banking operation and was in talks to sell local brokerage arm SG Securities, in line with global plans.
Higher provisions for bad debt and squeezed margins following a run on deposits depressed earnings at South African bank BoE, which is talks on a takeover by bigger rival Nedcor, results on Monday showed
New Clicks Holdings has entered into an agreement to buy a 94-store haircare franchise in Australia.
Feisty South African gold stocks added muscle to the bourse at midday on Wednesday.
South African Chamber of Commerce chief executive Kevin Wakeford has questioned the credibility of the commission investigating last year’s fall of the rand after the public was barred from a portion of Friday’s final hearing.
South Africa’s branches of accounting firms KPMG and Andersen were given an all clear to merge by the Competition Authority.
The road agency of the Mozambican government has awarded construction company Basil Read a contract for the rehabilitation of a 244km road between Vanduzi and Changara.