South African stocks continued to run in record territory at midday on Monday, buoyed by miners on firmer metal prices while an upbeat mood in overseas markets added to the bullish tone. The market touched 33 116,051 during the session, an all-time high.
South African stocks remained weak at midday on Tuesday with miners the worst causalities on easing metal prices, while falling overseas markets added to selling pressures. At 12.09pm, the JSE's broader all-share index was down 0,86%, weighed by a 2,88% drop in platinum miners.
Microsoft chairperson Bill Gates on Wednesday played down the chances of a fresh takeover bid for Yahoo!, saying the United States software giant would focus on an independent strategy. "We put a lot of effort into talking to Yahoo! and the conclusion was reached that we should pursue our own independent path," he told reporters during a visit to Tokyo.
Yahoo! is willing to negotiate further with Microsoft, top executive Jerry Yang said in an interview on Tuesday, as he defended his handling of the aborted takeover bid. "We were totally willing to do a transaction, and they walked away," Yahoo! CEO Yang told the <i>Financial Times</i>, adding that he is open to renewing negotiations with Microsoft.
South African telecoms operator MTN Group said on Monday that it was in share price-sensitive talks with India's Bharti Airtel. The group did not give much away amid speculation that Bharti Airtel, India's biggest phone company, might launch a takeover offer for the local firm.
South African mobile services operator MTN said on Friday that it had not received any "specific proposal" from any company regarding a takeover of the company. MTN was responding to a report that India's Bharti Airtel is considering a bid for the company.
The global credit squeeze is a "serious crisis" that is not over yet and will have an impact on government budgets, International Monetary Fund (IMF) outgoing head Rodrigo Rato said in an interview published on Monday. IMF managing director Rato said: "Policymakers should not think that the problems will stay at the desk of the bankers."
Worried customers were expected to keep withdrawing savings en masse on Saturday from embattled British bank Northern Rock after the Bank of England bailed out the lender. Customers formed lengthy queues outside branches on Friday after Britain's fifth-biggest home-loan provider said it was facing severe difficulties raising cash to cover its liabilities.