JSE sidesteps Apple’s 10% plunge
AngloGold Ashanti has rocketed since December, and its further 4.4% rise on Thursday helped the local bourse avoid a global rout
The JSE managed to sidestep Thursday’s global market carnage caused by Apple plummeting 10%, but it may not be so lucky on Friday. The all share index rose 0.79% on Thursday, ignoring US markets, where the Nasdaq index fell 3% and the S&P 500 index fell 2.5%. European markets took their cue from Wall Street, with Paris’s CAC 40 index falling 1.66%, Frankfurt’s DAX 30 index down 1.55% and London’s FTSE 100 index losing 0.62%. Miners benefited from Thursday’s weaker rand, which spiked at R14.70/$ during a “flash crash” that swept through currency markets late on Wednesday night South African time. The JSE’s resources 10 index gained 0.92% on Thursday, led higher by AngloGold Ashanti gaining 4.35% to R190.30. A recent rally in the gold price has helped AngloGold Ashanti show an annual return of 48.56%, with most of this growth spurt in the past few weeks.
Gold managed to briefly go back over $1,300/oz on Thursday, but was trading at $1294.39/oz on Friday morning. The rand’s recov...
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