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CORRECTED - SAfrica stocks race to record high,rand firmer to dlr

Thu May 15, 2008 10:21pm IST
 
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(Corrects bond yields in para 14)

JOHANNESBURG, May 15 (Reuters) - South Africa's stock indices surged to record highs on Thursday supported by higher metals prices and the rand was also on a firmer footing against the dollar.

The JSE's Top-40 Index .JTOPI was up 0.86 percent to an all-time 30,665.72 points high and the broader All-share Index .JALSH went up 0.8 percent to a record 32,647.43 points.

"It's the resources that helped us all the way up," Garth Mackenzie, a trader at BoE Private Clients said.

Mining giant Anglo American (AGLJ.J: Quote, Profile, Research) climbed 1.29 percent to 513 rand, while rival BHP Billiton (BILJ.J: Quote, Profile, Research) was 0.16 percent higher at 315 rand.

Goldfields (GFIJ.J: Quote, Profile, Research) led the gold miners up, gaining 0.76 percent to 105 rand as gold jumped more than 2 percent, helped by speculative buying on the metal's appeal as an alternative investment and an inflation hedge.

Spot platinum also made gains, driving platinum miners higher. Anglo Platinum (AMSJ.J: Quote, Profile, Research) rose 2.44 percent to 1,343 rand.

The world's biggest brewer, SABMiller (SABJ.J: Quote, Profile, Research) performed best among the blue chips, growing 3.63 percent at 185.50 rand. The company beat forecasts with a 19 percent rise in annual earnings on Thursday.

Industrials' shares were also higher, led by construction and engineering group Murray and Roberts Holdings Ltd (MURJ.J: Quote, Profile, Research), which climbed 2.39 percent to 90 rand.  Continued...

People light candles at a vigil to commemorate the victims of last year's militant attacks in Mumbai, in front of the India Gate in New Delhi November 26, 2009. Mumbai held tearful memorials and police staged a show of strength on Thursday as India's financial hub marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. REUTERS/Rupak De Chowdhuri
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