JSE closes back in black

[Inertia]

The JSE all share closed over 650 points in the black following a boost in global markets after an announcement on Friday by the US Federal Reserve strengthened Wall Street.

After a week of carnage sparked by global credit concerns, the Fed gave financial markets a boost on Friday by cutting its discount rate, the rate at which it extends direct loans to banks, by fifty basis points to 5.75%.

The JSE all share index ended 2.52% in the black today. Resources soared 3.34%, the gold mining index edged up 0.76% but the platinum mining index eased 0.25%. Banks strengthened 2.81%, financials added 1.55%, and industrials collected 2.14%.

http://www.thetimes.co.za/News/Article.aspx?id=543942

Since crashes are posted, why not be consistent and post the recoveries. Don't expect any replies

 

[Leitmotif]

Now: will we see any benefit from this?