South African Stocks Rise to Highest Since May 2008

Bloomberg reported that South Africa’s FTSE/JSE Africa All Share Index reached the highest level since May 2008, rising 139.73, or 0.4 percent to 33,094.06 at the 5 p.m. close in Johannesburg.

The article states that:

Citigroup Inc. raised its price estimate on Cipla Medpro to 11.50 rand a share from 8 rand. Delta EMD Ltd. (DTA SJ), which supplies electrolytic manganese dioxide used to make dry-cell batteries, fell the most since Oct. 27, losing 70 cents, or 7 percent, to 9.30 rand.

To read the full press release, click here.