S.Africa stocks creep higher, track global markets

JOHANNESBURG (Reuters) - South African stocks ended a muted session a tad higher on Monday, as battered-down miners tracked global equities on hopes of policy action from central banks to counter signs of a faltering global economy.

Gold producers such as AngloGold Ashanti were among some of the biggest gainers, recouping recent losses on higher metal prices and as investors overlooked spreading labour unrest in South Africa's mining industry.

"The guys have been rallying around the fact that poor economic numbers encourage central bankers across the world to act more strongly in terms of throwing stimulus at the market," Nilan Norar, head of trading Global Trader.

The JSE Top-40 index edged up 0.18 percent to 31,227.59 and the broader All-share index was 0.27 percent higher at 35,485.10.

Separate surveys showed manufacturing activity in China and Europe slowed more than expected last month, highlighting the poor health of the global economy.

AngloGold Ashanti, the world's third-largest bullion producer, climbed 2.4 percent to 262.89 rand.

Gold Fields, the fourth-largest producer of gold, edged up 0.56 percent to 101.03 rand, despite a wildcat strike by about 12,000 workers since Wednesday.

Smaller rival Harmony added 0.67 percent at 68.24 rand.

However, Australian-based Gold One International lost 2.09 percent to 3.83 rand, albeit on low volumes, after the junior miner said half of its staff were blocked by ex-workers from reporting for duty on Monday.

Construction company WBHO jumped 4.7 percent to 131.79 rand after it lifted dividend by 6 percent and its order book by 30 percent.

Absa was among the worst performers, falling 2 percent to 142.25 rand, as the South African unit of Barclays Plc starts trading without the rights to its next dividend payout.

Trade was thin, with just 109 million shares changing hands on the bourse compared to last year's daily average of 255 million partly because U.S. investors were out for the Labor Day holiday.

Advancers outpaced decliners 182 to 126, while 62 stocks were unchanged.

Source: http://news.yahoo.com/africa-stocks-creep-higher-track-global-markets-162409240--finance.html

ll cool j amy schumer amy schumer Prince Harry Vegas pictures Avril Lavigne Microsoft Tropical Storm Isaac