0738 GMT [Dow Jones]--With about 40% of votes counted on Thursday, South Africa's ruling African National Congress looks set to sail to victory as expected, calming rand traders for now. The ANC had won just over 61% of the vote. That's about in line with recent polls that predicted the ruling party would win around 63% overall. The top opposition party, the business-friendly Democratic Alliance, had 25% of the vote, up for now from its 17% finish 2009 elections. The rand traded Thursday morning around 10.47 to the dollar, slightly stronger than its 10.50 level a week ago.patrick.mcgroarty@wsj.com
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(END) Dow Jones Newswires
May 08, 2014 03:38 ET (07:38 GMT)
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