THURSDAY, 11.00AM:
The gloomy sentiment that his beset local markets this week continued on Wednesday as weak international markets added to the general gloom to push major indices on the Johannesburg Stock Exchange lower.
Turnover, at R1-billion was higher than it has been this week and producer inflation figures released on Tuesday were positive, but sentiment was still negative and Cape Town’s failure to secure the 2004 Olympics was still having an effect on share prices. Futures traders selling stocks down ahead of next Thursday’s close-out also played their part.
Industrial shares took a particular beating, with the index losing 63 points to close at 8 913. The financial index did not better, shedding 50 points to 10 219. The gold index was saved by selected shares resisting the negative trend, keeping index losses down to only six points, closing at 976. The all share index closed 42 points down at 7 311.