17 February, 2012 18:12

BusinessLIVE

Talk of second bailout for Greece boosts futures

South African futures rallied on Friday as optimism for a second bailout for Greece boosted global investor appetite.

The local near-dated Alsi contract ended 302 points, or 1.00%, higher at 30,370.

The rand was at 7.71 from R7.81 against the US dollar on Thursday, while gold was quoted at US$1,726.73 a troy ounce from US$1,716.83/oz before.

The total number of contracts that exchanged hands was 32,284 from 43,412 on Thursday.

Dow Jones Newswires reports US stocks were mixed on Friday, with blue chips rising in tandem with optimism for a second bailout for Greece, extending gains for a second session, Dow Jones Newswires reports.

Early gains in US stocks followed a rally in Europe, after a Greek government spokesman said at a briefing that eurozone ministers were expected to approve a new bailout package.

German officials said they had scrapped plans to pressure Greece by withholding part of the bailout, and the European Central Bank plans to swap its Greek debt holdings for new bonds once the debt-restructuring deal is complete.



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