THURSDAY, 5.30PM:
THE Johannesburg Stock Exchange today made up Wednesday’s losses, with the all share index rising 31 points to 6423, the industrial index climbing 35 points to 7950 and the financial index 90 points stronger at 9917. The all gold index shed 6 points to 785.
The all gold index shed 6 points to 785. By late afternoon the rand was firmer against the dollar, trading at a mid-rate of R4,8570 from Wednesday’s close of R4,8615. On the bond market, the R150 was 9,5 basis points better at a 14,265% yield.
WEDNESDAY, 5.30PM:
AFTER two days of modest gains, the Johannesburg Stock Exchange closed weaker on Wednesday, reflecting a worldwide decline. The JSE all share index fell 27 points to 6392, the industrial index was off 45 points at 7915 and the financial index slipped 6 points to 9827. The gold index climbed, however, gaining 10 points to 791.
Dealers were made nervous by a sudden plummet on Japan’s Nikkei index of 884,11 points to 15 842, the biggest points drop this year, when dealers learned that the government would not bail out banks which have run into trouble due to bad loans. Following Japan’s lead, stocks in Europe also fell. In London, stronger than expected retail sales figures prompted a brief panic over inflation. The Dow was expected to open around 40 points lower, but by 9:55 New York time had only dropped around 3 points.
On the local bond market, both the R150 and R153 rose two basis points, the R150 to a 14,40% yield, and the R153 to 14,48%. The rand lost around a cent to the US dollar, and was last at R4,8630.