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/ 25 September 2007
The JSE had given up most of its early gains by midday on Tuesday, but was still in positive territory as resources and the platinum mining index tried to lift the local bourse. By noon, the JSE’s all-share index had added 0,18%. The platinum mining index had firmed 1,93% and resources rose 0,69%.
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/ 12 September 2007
Petrochemical giant Sasol’s announcement that it plans to transfer 10% of its issued share capital, worth close on R18-billion, into black hands has inspired mixed messages from trade unions. The Chemical, Energy, Paper, Printing, Wood and Allied Workers’ Union on Tuesday "cautiously welcomed" the news.
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/ 1 September 2007
South African unions have wrested hefty wage increases from employers, wielding strikes as weapons at a time of high inflation and strong performance in the key mining sector and government surpluses. The strength of unions, traditionally allied with the left wing of the African National Congress (ANC), could become critical with a looming showdown over who will succeed President Thabo Mbeki as president of the ANC.
After ending 1,5% higher on Monday, the JSE was back in the red on Tuesday morning following a decline in the Dow overnight. However, the local bourse was being cushioned somewhat by the softer rand and good interest in direct miners. By 12.11pm, the all-share index was off 0,15%.