Sarah Bullen, Johannesburg | Monday 6.00pm
LOCAL stock had a rough, abysmally quiet day on Monday as the Johannesburg Stock Exchange followed international markets lower. Weaker undertones dragged all indices down, with the all share index losing 1,89%, 133 points, to 6887.
Key international tones, said Barnard, Jacobs, Mellett dealer Kevin Brady, were a negative New York market, and a significant 5% fall in the Hong Kong’s Nikkei Dow sparked by panic selling after the Japanese yen hit a seven-week low of Y145,55 against the dollar.
At close of trade the all gold index had lost 1,75%, 16 points to 899 while the financial index dropped 1,35%, 167 points, to 12175.
Industrial stock took the heaviest knock, falling 2%, 164 points, to 8038. Volume traded was weak, around R800-million, compared with an average day’s trade of R1,5-billion.
Bonds rallied on Monday, however, with investors avoiding the equities to move into the securities market. At close of trade the key R150 government bond offered a 15,6500% yield, up on Friday’s close of 15,750%.
At 6.00pm the rand is sitting slightly stronger, at around R6,1150 to the dollar.