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| | Posted by admin on Thursday, April 06, 2006 - 08:16 AM |
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|  | THE JSE surged
to another record high yesterday, with analysts saying the local bourse
could be headed for the psychological level of 21000 index points
before the end of the week if the current momentum was sustained,
writes Ayanda Shezi.
The seemingly unstoppable equity
market has bolstered confidence in the local economy, boosted the rand
and kept inflationary fears at bay.
“The outlook remains a cheerful one for the economy, and
the current performance of the JSE, combined with the strong rand, is
generally positive for economic growth,” Econometrix Treasury
Management analyst George Glynos said yesterday.
The JSE’s all share index climbed as much as 0,8% to
20815 yesterday. The resources index led the market higher, climbing as
much as 1,8% to 36587.
The rand gained for a fifth day running yesterday,
trading near a six-week peak at R6,02 to the dollar as positive
sentiment regarding SA, as well as stronger precious metals prices,
filtered through to the currency. | |
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