Telecoms17.01.2008
Telecoms stocks hit hard
The international financial institution, Citigroup, suffered losses which set off a chain reaction causing many global markets to trade sharply lower, and local tech stocks were not spared.
Telkom – which hit an all time high a few months ago of over R 190 per share, closed at R 129, a 52 week low.
MTN also closed lower at R 113.50 per share, far below its 52 week high of R 137.60.
Vox Telecom however defied international market trends, up nearly 2% yesterday on R 2.15. It is however also far below its 52 week high of R 3.55 per share.
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