MICHAEL METELITS, Johannesburg | Thursday 7.00pm.
The JSE was hammered again by the Russian market and the effect it’s having on investor sentiment about emerging markets.
The all share dropped 314 points to close at 5218, while industrials plummeted 387 points to finish at 6106.
Financials, tied closely to the debt and currency markets, haemorrhaged 839 points to close below 10000 at 8294, while all gold managed to squeak out a 4 point gain as a relatively safe haven, and wound up at 784.
The R150 lost 96 basis points, closing at 19,72%, primarily driven by sentiment surrounding the Russian debt market. All emerging market debt has been affected by Russia’s crisis.
The rand was last seen at R6,69 to the dollar, holding well considering the bloodletting in the equity and bond markets.
In London, gold traded at $280,75-$281,25 at 11:00 am GMT lower than its previous spread of $282,90-$283,40.