The local exchange faced a barrage of selling yesterday falling by over 2%. Weak economic data out of China and signs that the U.S Federal Reserve could soon slow its stimulus program dented sentiment.
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After trading in negative territory for most of the day, the market rallied to close the day marginally up (0.02%).
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Despite the rand falling to a four year low on Friday the JSE ended flat ending the four day winning streak.
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The JSE continued on its upwards trajectory to close up 1.27%, with large moves on either side of the spectrum.
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The Top40 recorded its 3rd straight day of gains with our Industrial sector the outperformer, led by the usual suspects.
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The local bourse closed at the high of the day as investors climbed into our Industrial & Financial counters. (Top40 +0.9%, Indi +1.5%, Fini +0.9%).
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The local bourse closed in positive territory with emerging markets trading mixed. Losses in the resource space were overshadowed by a strong Industrial sector.
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The Top40 ended (-0.28%) lower hampered by a weak resource sector but managed to end the week up (+1.75%). AMS (-4.3%) plans to scale back job losses to only 6000 workers which is half than originally planned
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The Top40 gave back 250 points in afternoon trade to close flat, underperforming global markets. Weak commodity prices weighed on our counters with gold stocks the laggards (GFI -3.6%, ANG -2.7%).
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Our market added to Friday’s gains with the resource sector the outperformer despite commodity prices trading mixed.
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