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Home >> Business
UPDATED: 09:48, August 12, 2006
Johannesburg stock surges on improved sentiment
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The Johannesburg Security Exchange put Thursday's weakness on the back boiler to surge by 160 points on the back of a better U.S. performance in the face of the terror threat and positive outlooks for local companies on the earnings front.

The all share index closed 0.78 percent higher. Resources rose 0.80 percent, the platinum mining index surged 1.40 percent and the gold mining index rose 0.17 percent. Industrials and financials improved 0.80 percent and 0.72 percent respectively, while the banks index also rose by 0.65 percent.

"Wall Street replied quite well yesterday to the foiled terror plot and this showed investors the market was able to distinguish between terrifying events and events that should affect the economy," said analyst from Imara SP Reid Steve Meintjes.

On the all share index, both volumes and value were lower with 5.8 billion rand of value traded from 7.5 billion rand on Thursday and volume amounting to 204 million shares from 216 million before, drops of 25 percent and 7 percent respectively.

Source: Xinhua


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