The JSE closed stronger on Friday with resources and gold miners leading the gains as investors bought local shares after some profit-taking on Thursday. The all-share index closed 0.41% higher at 51,629.20 points with the top 40 up 0.45%. Resources were 1.76% higher, followed by the gold index, adding 1.31%. At the JSE’s close, the gold price was flat (-0.02%) at $1,265.44/oz. The all share ended the week 0.94% up, and has gained 1.85% for the year so far. The Dow Jones was 0.46% softer at 5pm, as were the FTSE (-0.17%) and Paris’s CAC 40 (-0.12%). Germany’s Dax was flat (0.04%). Local investors are keenly awaiting the medium-term policy statement next week, which is bound to influence how credit rating agencies assess the country. Banking group Investec economist Kamilla Kaplan said on Friday the medium-term budget would be delivered against a backdrop of economic underperformance, constrained fiscal space and the heightened risk of a sovereign credit rating downgrade. Among indiv...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.