THURSDAY, 11.00AM
RESERVE Bank governor Chris Stals’s positive statement on an interest rate cut on Wednesday deterred further selling on the Johannesburg Stock Exchange, but investors were not buying either, leading to a quiet day, with investors waiting for a rate cut to materialise.
With few sellers in evidence, the industrial index traded weaker for the early part of the day before edging up to close 17 points higher at 9,122. Financials were unable to continue their run at record highs, with the index slipping back 11 points to 11 504. The gold index, meanwhile, trade in a narrow band on a steady bullion price, ending four points weaker at 983. The all share index was unmoved at 7 474.