Stocks Rally in Futures Trading
May 15, 2011
The hunt for quality stocks saw the All Share index climb 47 points to 6735, with the Industrial index rising 76 points to 7911 and the All Gold index up 13 points to 1800. However, brokers said the strength of Monday's rally was exaggerated to a degree by strong demand for just four stocks: computer hardware and software concern Persetel Holdings; mining investor Middle Witwatersrand; South African Breweries; and mining house Gencor. A South African merchant bank exercised a call option for over 3.0 million shares in Persetel, immediately selling these shares on the market in a two-pronged deal that represented the bulk of the 7.1 million shares traded in that company Monday.
