ALAN FINLAY, Johannesburg | Friday 4.30pm.
THE JSE ended up on Friday, off the back of a strong Dow Jones which closed 1,4% or 152,61 points up on Thursday.
But midday the all share index had reached its highest level for the year and the best since April 1998.
The overall closed 0,65% or 48,78 points up. Financials ended play 1,16% or 105,68 points strong and industrials 1,40% or 110,36 points in the black. Analysts said resources kept the markets humming. Both Anglo American and De Beers traded the most active shares by value on the day.
Gold shares ended in positive territory, 0,24% or 3 points up. By late afternoon gold was trading on international markets at $293,70 to the ounce.
“Although volumes remained thin there are a few bargains around and investors are discounting Y2K and snapping them up at discount prices,” said Standard and Poor’s James Rheeder.
The rand strengthened slightly against international currencies and at 4.15pm was trading at R6,14 to the dollar and R9,90 to the pound.
The repo rate fell 1 basis point to 12,04%. Since the last interest rate cut on September 23, the repo rate has fallen 56 basis points.
Hong Kong’s Hang-Seng closed 2,49% and 365,67 points up and Tokyo’s Nikkei ended 2,29% or 415,70 points good.