TUESDAY, 6.00PM
SHARES on the Johannesburg Stock Exchange, especially financials, leapt ahead on Tuesday, buoyed by rejuvenated overseas markets and positive domestic news. Only the falling bullion price cast a blot on the day, dragging gold shares down.
At the close the all gold index had slipped 9,1 points to 1 009,6 as the bullion price slipped under pressure from a strong dollar, but the industrial index had jumped 97,5 points to 8 948,9. The all share index was driven up 90,1 points to 7384,4, pushed by the financial index, which rocketed 236 points, or 2,3%, to 10 498,5.
Bonds ended stronger on Tuesday as a lower money market shortage raised expectations that more interest rate cuts will be applied in the near future. At 4pm the benchmark government R150 long bond was quoted at a 13,665% yield from 13,73% on Monday, while the longer-dated R153 bond was at a 13,775% yield from 13,84% before. The Eskom E168 bond was trading at a 13,95% yield from 14,03%. The range on the R150 was 13,64% to 13,745%, after the R150 yield declined last Thursday to 13,63% — its lowest level since February last year.
The rand, meanwhile, stagnated on Tuesday. At 4pm the local unit was quoted at a mid-rate of R4,6955 to the dollar from Monday’s close of R4,6940. The rand traded between bids of R4,6920 and R4,7000 during the day.