Gold stocks were a feature on the JSE Securities Exchange (JSE) in noon trade on Thursday, which was in the black due to demand for gold and other resources stocks. A weakening in the rand also added to the positive picture. By noon, the all-share index was up 0,37%. Resources climbed 0,83% and the gold mining index surged 3,13%.
The JSE Securities Exchange (JSE) was ensconced in positive territory in noon trade on Wednesday, helped by continued weakness in the rand and firmer world markets. Better-than-expected consumer inflation numbers released just after noon further lifted the JSE’s spirits.
The JSE Securities Exchange South Africa forged ahead in early trade on Wednesday, following Wall Street’s strong performance overnight and a stronger opening on European markets. Continued weakness in the rand added to the positive picture.
South Africa is enjoying a high-growth and low-inflation economic environment last seen in the 1960s, but this is not reflected in investors’ portfolios, Alwyn van der Merwe, senior portfolio manager at Old Mutual Asset Managers, said on Tuesday at a media briefing in Johannesburg.
The JSE Securities Exchange (JSE) was deep in the red in noon trade on Thursday, in line with world markets. However, gold stocks managed to eke out gains after being hammered earlier in the week. By 11.57am, the all-share index was down 0,96%. Industrials and financials fell 0,69% and 0,42% respectively.
The JSE Securities Exchange (JSE) was forging ahead in noon trade on Wednesday, fuelled by a weaker rand and stronger world markets. While gains were seen across the board, they were most pronounced on the Top 40 index, on which only four shares were in the red.
While the South African stock market comes under pressure and exporters bleat about the dire consequences of the rand’s strength, there is a flip side to the rand coin and many of the benefits of a robust rand are going unheeded, commentators say. On Monday the rand touched R5,88 per dollar — its best level since January 1999.
The JSE Securities Exchange (JSE) was haemorrhaging just before midday on Monday as the strong rand continued to thump heavyweight resources stocks. Negative sentiment spilled through to the rest of the market and decliners outnumbered advancers on the all-share index by about four to one.
More black economic empowerment deals are on the cards in South Africa’s financial sector. Speculation in the market is that Cyril Ramaphosa’s Millennium Consolidated Investments is to form part of the BEE consortium that will take a 10% stake in Standard Bank.
The JSE Securities Exchange South Africa (JSE) roared ahead on Tuesday, fuelled by a softer rand and basket buying by futures players. While it was one of the smallest gainers, even the gold sector managed to finish firmer despite a lower bullion price.
The all-share, industrial and financial indices also closed firmer.