MONDAY, 5.30PM:
The all gold index on the Johannesburg Stock Exchange slid even further today after Friday’s rout, losing 18 points to fall to 709. The financial index fell too, shedding 48 points to 10 043. But industrials saved the day however, with the index climbing 45 points to 7 757, to ensure that the all share index was weaker by only one point at 6 325.
The R150 long government bond was up two basis points to a 14,23% yield while the R153 gained three points to 14,30%.
The rand lost some ground to the dollar, at R4,8610 from Friday’s close of R4,8545. Gold was trading at R294,35.
Meanwhile, the JSE reports that foreigners bought shares worth R155,66-million last week. The net purchases compared favourably to sales of R81,6-million over the same week in 1996. Non-residents have bought R24,265-billion worth of shares so far this year, sharply up on the R4,759-million spent over the same period last year.
FRIDAY, 5.30PM:
IT was a bad Friday at the JSE, as the disappointing money supply and credit extension figures from the Reserve Bank (see below) helped drive the JSE southwards, and the gold price remained at low levels. The all gold index fell 30 points to 727 — its worst level in14 years.
The JSE all share index dropped 53 points to 6326, the industrial index slid 62 points to 7712 and the financial index shed 63 points to 10 091.
Despite the bad economic news the rand was fairly stable, trading at R4,8560 to the dollar from Thursday’s price of R4,8525. Bonds ended firmer. The R150 firmed three points to a 14,25% yield, while the R153 climbed 2,5 basis points to a 14,325% yield.