THURSDAY, 7.00PM:
ALL the indices on the Johannesburg Stock Exchange rose on Thursday after a brisk day’s trade, on expectations that an interest rate cut may be announced on Friday.
The all gold index gained 9,5 points to 737,9, and the industrial index 130,4 points to 8176,7. The financial index hit its 18th new record high this year — 131076,1 — a jump of 384,4 points, or 3,03%. The all share index rose 122,4 points to 61996,2.
Since January 12 the financial index has grown 40%. On February 18 it passed the 121000-point mark for the first time and on Thursday passed the 13000-point mark.
Shares worth R1,456-billion rand were traded on Thursday.
Bonds strengthened after overseas buyers showed interest, ahead of the receipt of two more expected sets of economic figures this week.
At 4.15pm the benchmark R150 government long bond was at a 13,23% yield — four basis points stronger. The R150 traded in a range of 13,29% to 13,245% in the morning and 13,25% to 13,225% in the afternoon. The longer-dated R153 straightened up 4,5 basis points to 13,445% yield.
At 4pm the rand was quoted at R4,9480-60 to the dollar from its Wednesday close of R4,9370-00. The unit traded between bid rates of R4,9360 and R4,9545 during Thursday. The rand lost ground quickly when the dollar gained against the deutschemark on Wednesday and early Thursday.
The rand was last observed trading at R8,1219 to the pound.
At the end of the day, gold was at $293,15 per ounce from a London morning fix of $293.