MICHAEL METELITS, Johannesburg | Thursday 5.30pm.
SOUTH African markets waited for direction from the release of US Consumer Price Index information on Thursday, and then stayed with the data’s “no-direction” message. Most JSE indices closed without much change on Thursday, and bonds and the rand weakened slightly.
US CPI data showed consumer prices unchanged in June from May’s level, leaving markets without decisive positive information but no real negative trends either.
The all share gained only 1 point or less than 0,01%, while industrial shed 11 points or 0,15%. The financial index slipped 16 points or 0,16% on the day.
Continued conflict over UK gold sales and the stated intention of the UK to continue those sales regardless of pressure slammed the gold price and gold stocks. The all gold index lost 19 points or 2,37%, while bullion slipped to $253,45.
Bonds also waited for direction, and the CPI kept the benchmark R150 bond range-bound around the 14,25% level, closing at 14,26% on Thursday. The R150 only slipped two basis points from Wednesday’s 14,24% close.
The rand saw brisk trade on Thursday, with corporates active on the buy and sell sides. The volume didn’t stop the unit from slipping back from Wednesday’s R6,13 to the dollar mark, closing on Thursday at R6,15.
Asia had a good day on Thursday, with the Nikkei-225 in Tokyo grabbing 74 points or 0,40%, while Hong Kong’s Hang Seng jumped 213 points or 1,57%.
Europe also felt the positive winds, as the European Central Bank Governor made favourable remarks about the Euro and US inflation data proved benign. London’s FTSE-100 leapt 103 points or 1,59% after a mixed morning.
Frankfurt’s DAX shared in the good times for 47 points or 0,84%, while Pris’ CAC-40 grabbed 77 points or 1,68% on the day.