TUESDAY, 2.00PM
INVESTORS took a more cautious stance on the Johannesburg Stock Exchange on Monday, keeping an eye on international trends and biding their time until the futures close-out later this week. “It was a sleepy market … There is no direction at all … and although the futures guys were active, there was nothing terribly aggressive,” one dealer said. Turnover, at R581-million was half of last week’s average.
The promising start to the day on expectations of a firm opening on Wall Street fizzled out and the Dow Jones Industrial average rose only 43 points after the JSE closed. Dealers say investors are still nervous about volatility on international markets, and that the local market is likely to drift at current levels, regarless of movements in the US market.
Industrials were flat, while gold edged downwards three points to 961. Financial stocks put on 72 points to 10 102, helping the all-share index stage a mild rally to put on 11 points, ending the day at 7 180.