After trading firmer for most of the day, the all share closed weaker on Friday, but was still up since Monday, recording its fifth consecutive week of gains. The all share closed 0.23% lower at 54,162.70, points but was still 1.05% higher for the week. It is up 6.93% this year. Gold and industrials were the best performers on the day, with both indices gaining 0.16%. Food and drug retailers dropped 1.53% and resources 1.44%. The retail sector was mixed after posting gains on Thursday following the surprise interest-rate cut by the Reserve Bank’s monetary policy committee. Some analysts are still adopting a cautious approach towards the sector, citing the tepid economic growth forecast. Banks also turned lower in late trade with Barclays Africa off 1.28% to R146.70. The all share ended Friday lower on a weak opening on the Dow and as European markets reversed course following Thursday’s decision by the European Central Bank (ECB) to keep rates unchanged. Markets initially reacted po...
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.