THURSDAY, 6.00PM:
SHARES on the Johannesburg Stock Exchange ended mixed on Thursday as gold stocks were boosted by the rally in the bullion price, but industrial shares ended lower due to profit taking and futures-related trades.
At the close the gold index had bounced 21,4 points to 760,6, but the industrial index had dropped 29,7 points to 7 419, while the financial index shed 4,6 points to 9 992,7. The all share index was left a marginal 1,2 points lower at 6 168,8.
Overall turnover was good at R1,212-billion, with much of the activity linked to structured deals ahead of Friday’s futures close out.
Futures trade continued to play havoc with key industrial stocks. At one stage they were knocked down 52- points on the index before halving their losses and then slipping back again just before the close.
Bullion managed to defy Wednesday’s expectations of its fall and even managed to strengthen. Gold last traded at $289,20 from a London morning fix of $287,05/oz, compared to a New York Wednesday close of $289,25.
Bonds held below the key 14% level on Thursday despite thin trade and expectations that the strong run will peter out. At 4pm the benchmark R150 government long bond was quoted six basis points stronger at a 13,97% yield, while the longer-dated R153 was 7,5 basis point firmer at a 14,045% yield. The Eskom 168 was 6 basis points stronger at a 14,13% yield.
The rand, meanwhile, ended the day slightly firmer against the dollar on local and international dollar selling. At 4pm the rand stood at a bid-offer rate of R4,8475-05 from R4,8535-65 to the dollar at the previous close. The rand traded between bids of R4,8480 and R4,8605 during the day.
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