WEDNESDAY, 11.00AM
NEW private sector credit extension figures released by the Reserve Bank on Monday evening hit the markets on Tuesday, with industrial shares, bonds and currency losing out as hopes for an early interest rate cut were dashed.
However, the losses could have been worse, but were saved by better than expected money supply figires, and Tuesday’s release of positive inflation and trade data.
On the Johannesburg Stock Exchange, the all share and industrial indices fell from Monday’s highs, with industrials shedding 21 points to 9 105, while the all share index lost 17 points to 7 474. Only financials continued their record run, gaining 23 points to a new high of 10 514. Gold shares started the day well, pushing the index over the 1 000-point mark, but later folowed the bullion price to close four points down on Monday’s close, at 986,5 points.