STOCKS NEWS AFRICA-S.African miners buck weaker trend on bourse

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 1318GMT 09Oct12 - S.African miners buck weaker trend on bourse ----------------------------------------------------------------

South African mining stocks top the gainers' list on the benchmark index, helped by the rand's fall to near a 3-1/2 year low and by investors betting the sector has fallen to oversold levels from the recent spate of wildcat strikes.

The JSE mining index is up 0.36 percent, outpacing a slight decline

in the JSE All-share index , with Exxaro leading the gains with a 3.1 percent rise to 164.10 rand.

South Africa's remained near a 3-1/2 year low against the dollar on Tuesday due to weeks of labour unrest that have rattled investors in Africa's biggest economy.

"It has been over a decade since we have seen resources valued at these levels," Andrew Dittberner, Senior Investment Manager at Cannon Asset Managers.

"Although the short-term outlook for resources may be clouded by the current labour unrest, the struggling developed world and concerns around a Chinese slowdown, we believe that there are some opportunities opening up for investors in this sector."

Reuters Messaging: [e-mail]

Keywords: MARKETS AFRICA STOCKSNEWS