/ 13 February 2002

JSE SECTORS CHURN WITH GOLD AT $299,75/oz

THE JSE banks sector was on the rebound by 1pm Thursday, while the gold sector lost 1,5% with the metal trading at $299,75/oz, up from Wednesday evening’s $299,70. The JSE overall index gained 0,1% to 10697 despite a softer Wall Street. Platinum producers Implats and Angloplat both gained more than 3% as the platinum price gained $5/oz to $465/oz. With the Nasdaq down 1,4%, Didata dipped 5,7% to R12,35. Though the rand weakened to R11,53/$ from Wednesday evening’s R11,48, the banks sector gained 2,5%. Absa skipped up 3,6% to R25,90, with some speculators hoping it had reached its trough following the Unifer microlending disaster. Saambou regained 20% to R1,99 after analysts scoffed at fears that the bank was facing a liquidity crisis. Sasol lost 1,4% as the price of Brent oil dipped to $19,54 a barrel from Wednesday evening’s $19,92. Iscor dipped 0,7% to R13,55 after reporting on Thursday that its operating profit rose by 137% for the interim period ended December 31. – Sapa