MARKET WRAP: See-saw ride sees JSE end lower on volatile global markets
In its most volatile day since late October, the JSE loses more than 1%
With international markets gaining while South African markets were closed on Wednesday, the JSE started the day well on Thursday. However, once US and European markets opened somewhat lower, it began to fall. In a wild see-saw ride, the all share traded in a range of nearly 1,500 points, its most volatile since October 25. Trade in the rand, however, was a little calmer, with the currency almost flat against the dollar by the JSE’s close, at R14.5599. It was down 0.65% to the euro at R16.6335 and 0.14% to the pound at R18.4257. The euro had gained 0.64% to the greenback at $1.1427. The JSE turned over R9.5bn, a little under half its daily average, with extreme moves among individual stocks the order of the day, which is often the case at this time of the year. The all share fell 1.02% to 51,551.7 points, with industrials faring worst, down 1.62% and resources losing 1.09%. Banks eked out a 0.46% gain, with gold and platinum miners doing best, up 0.57% and 2.24%, respectively, on a ...
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