Third quarter ends on positive

THE JSE ended a difficult third quarter on a positive note yesterday as the market staged a relief rally led by industrials and financials.

Almost $11-trillion (about R150-trillion) was erased from global share values in the quarter‚ the worst quarterly drop since 2011. After losing 4% in August the all-share ended September marginally up by 0.23%.

The all-share yesterday closed 1.43% higher at 50 088.90 and the bluechip top 40 gained 1.63%. Industrials were up 1.65% and financials gained 1.29%.

The rand was firmer in the early evening as the market appeared to ignore negative local trade figures and better-than-expected ADP employment data from the US.

The rand strengthened to R13.80/$ in intraday trade‚ before weakening slightly again. It closed at R13.83/$ from R13.98/$ before. — BDlive