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 thesector 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 gainswith a 3.1 percent rise to 164.10 rand.

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

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

"Although the short-term outlook for resources may be clouded by the currentlabour unrest, the struggling developed world and concerns around a Chineseslowdown, we believe that there are some opportunities opening up for investorsin this sector."

Reuters Messaging: tiisetso.motsoeneng.thomsonreuters.com@reuters.net


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