From Business Recorder

South African shares were led higher by the mining sector on Friday and the market looked set to make further gains in coming sessions after the government slashed fuel prices. The retail price of 95-grade petrol in South Africa will drop by 93 cents or 8.3 percent a litre from next Wednesday, which traders expect to place more purchasing power in consumers’ wallets.

The stimulus program planned for the eurozone is also expected to unlock fresh money that the market sees trickling down to emerging markets such as South Africa. “It seems that some overseas funds underweight in emerging markets are coming through and buying,” said Greg Davies, an equities trader at Cratos Capital.

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