FRIDAY, 10.30AM:
TRADE on the Johannesburg Stock Exchange was subdued on Thursday amid caution following a weak opening on Wall Street. Traders mostly selectively picked up blue chips, pushing the industrial index up, while financials continued their recent recovery.
The industrial index recorded a 14-point rise to 9 032, helped by renewed expectations of an interest rate drop following disappointing retail sales figures. Financial stocks continued their recent roll after losing 180 points earlier in the week. The financial index gained 54 points on Thursday, to close at 10 073.
While the performance on the financial and industrial boards helped the overall index up 19 points to 7 338, the gold price continued to languish, pushing the gold index down six points to 989.
Local markets on Friday will be dominated by sentiment based on Wall Street’s overnight performance, particularly as the Dow was declining after SA markets closed on Thursday.