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STOCKS NEWS AFRICA- Anglo rallies as Xstrata seeks merger talks
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Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
0811GMT 22June2009 - Anglo rallies as Xstrata (LSE: XTA.L - news) seeks merger talks
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Anglo American (LSE: AAL.L - news) 's Johannesburg-listed shares jump more than 8 percent after rival Xstrata sought talks about a merger of equals to better compete in a consolidating mining sector.
Anglo American, which also trades in London, trades 8.14 percent higher at 235.20 rand by 0811 GMT, outpacing a slightly weaker JSE Top-40 index of blue chips.
'(The announcement) wasn't expected, but it is certainly welcomed in the market hence the share price reaction,' one trader said.
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