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FTSE falls for seventh trading day as South African firms slip again

Discussion in 'Market News' started by Lily, Dec 11, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Mining companies remain under pressure as iron ore and oil slide

    Leading shares have headed lower for the seventh trading day, as concerns about the mining sector continue and investors nervously await a likely US rate rise next week.

    Shares in companies with South African connections were among the leading losers, as the rand continued to weaken after President Jacob Zuma sacked finance minister Nhlanhia Nene on Wednesday.

    Bellway has seen continued strong demand, pricing ahead of expectations and an easing in volatility in labour availability. Price and volume growth are now both expected to be around 10% for the current year. We have increased our pretax profit forecasts by around 5% and nudged our target price up to 2,890p. After this morning’s share price rise, we maintain our hold recommendation.

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