THURSDAY, 5.45PM:
SHARES bounded forward on the Johannesburg Stock Exchange on Thursday, building on Wednesday’s record high on the financial index. Dealers said the trade was some of the best since last October. A flood of investor rands into the market signalled a return of confidence in stocks and the economy.
All the indices went up, encouraged by good futures-related trade, rising overseas markets, and gold’s strong advance towards a psychologically important $305 an ounce.
The all gold index climbed 25,5 points to 888, the industrial index 172,6 points to 7 661,5 and the financial index 123,3 points to 11 198,3 — its second consecutive record high. The all share index was driven up 162,6 points to 6 506,9.
Turnover climbed to R1,951bn, the third highest value ever.
Internationally, the London FTSE had hit a record high of 5 411,9, a rise of 39,3 points when the JSE closed. The US S&P 500 futures index was up 0,1 points, following a gentle opening on the Dow Jones industrial average, which had a strong 100-point rise on Wednesday.
Bonds ended down on Thursday after lacklustre trade. The benchmark R150 government long bond last traded at a 13,50% yield — five basis points weaker than Wednesday’s close. The range on the R150 was 13,515% to 13,43%. The longer-dated R153 bond ended 4,5 points softer at 13,595%. The Eskom 168 bond closed 3,5 points weaker at 13,685%.
The rand hovered just below the R4,92 per dollar level on Thursday and closed at R4,9160/90 from R4,9120/50 at Wednesday’s close. It traded between bids of R4,9140 and R4,9240.
The gold price was last quoted at $303,60-10 per ounce from a London morning fix of $304,25 an ounce. Dealers said hedge-fund activity was providing strong support for the gold price.