MARKET WRAP: Thursday, December 8
JSE rises as global bourses cheer the ECB news of continuing stimulus
The JSE rose markedly on Thursday as global bourses cheered the news that the European Central Bank (ECB) would extend, by nine months, its continuing stimulus measures, while the rand initially weakened on disappointing local data, before coming back a bit in the late afternoon. Mining and manufacturing numbers released by Statistics SA earlier in the day had a deleterious effect on the local currency and bonds, both of which weakened further when the euro softened on the ECB easing news. They came back, however, a little later, as the euro clawed back some of its losses. The JSE all share closed 2.16% higher at 50,543.40 points and the blue-chip top 40 added 2.25%. General retailers jumped 4.10% with food and drug retailers up 1.7%. Banks rose 3.03% and financials 1.68%. Resources climbed 2.70%, industrials 2.13%, and food and drug retailers 1.70%. Both the gold and platinum indices made moderate gains as the prices of the respective metals dropped. Among individual shares, Anglo ...
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