Bourse regains positive ground

THE JSE closed firmer yesterday‚ clawing back earlier losses in the global sell-off‚ especially on emerging-markets bourses‚ triggered by Donald Trump’s election victory.

The all-share rose 0.49% to 50 950.4 points after dropping more than 2%.

“It’s been a dramatic day in terms of market swings‚” said Afrifocus Securities portfolio manager Ferdi Heyneke. “I suspect volatility will continue in the foreseeable future.”

The price of gold‚ which earlier shot up more than 4% to highs of $1 336.81 an ounce on safe-haven demand‚ returned some gains.

The gold index added 4.79%‚ platinums rose 4.52% and resources firmed 4.7%. But banks shed 1.61%‚ financials 0.56% and industrials 0.6%.

At 3.36pm the rand was at R13.49/$ from Tuesday’s R13.32/$. It was at R14.88/ from R14.53/ and R16.70/£ from R16.32/£. — TMG Digital