WEDNESDAY, 5.30PM
STOCKS made a recovery on the JSE on Wednesday, but managed to claw back only around half of yesterday’s record losses. The all share index closed 385 points stronger on 6392.
The gold index climbed 16 points to end the day at 877, the industrial index finished 499 points up on 7932 and the financial index 578 points better at 9168. Brokers were tight-lipped all day, reluctant to comment on a volatile and unpredictable market.
Bonds also ended the day stronger, but lost most early morning gains in a volatile market marked by heavy volumes. The benchmark R150 long government bond closed at a 14,56% yield from 14,80% on Tuesday. The R153 bond finished at a 14,65% yield from 14,86% before.
The rand ended the day in a slightly better position. At 4pm it was at R4,8055 to the dollar from Tuesday’s close of R4,8250 and at R8,0042 to the British pound from R8,1703 late on Tuesday.