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Johannesburg - The JSE rebounded slightly early on Friday after suffering a worst one-day percentage drop since November 2011 on Thursday on negative global market sentiment.
At 9:37‚ the JSE All Share [JSE:J203] index was up 0.46% at 41 042.50 points after shedding 2.43% on Thursday‚ while the Top 40 - (Tradeble) [JSE:J200] blue chip index recovered 0.49% at 36‚489.
Stanlib portfolio manager Paul Hansen said better economic data in the US boosted sentiment on Wall Street‚ which in turn boosted world markets.
“The JSE got hit hard yesterday‚ although it still held above the 40 000 level and mining shares are still higher than a week ago. It was helped by the weaker rand at R9.56/$. When a market like ours has run from a low of 17 800 in November 2008 to 41 000-plus in four and a half years‚ one must expect some volatility‚ including some wild days‚ especially with all the news about strikes and wage demands‚” said Hansen.
Major European stock exchanges were slightly firmer in early trade‚ with London’s FTSE 100 edging up 0.20% while Japan’s Nikkei 225 lifted 0.89% after losing more than 7% on Thursday.
Among individual shares on the JSE‚ Sasol (SOL) recovered 1.19% to R424.48 but Aquarius Platinum (AQP) fell 2.86% to R5.77. Sibanye Gold (SGL) gained 2% to R7.15.
