Market Report: Financial markets surprisingly strong

JOHANNESBURG – Financial markets in South Africa remain strong despite economic woes and the second wave of the Covid-19 virus in the US and the climbing numbers of intake of infections in South African hospitals.

Equity prices, especially resources and industrial shares, continue their upward movement that started at the beginning of April. 

The all share index closed on Friday on 55 417 points. This is now only 1 667 points (2.9 percent) away from its opening level of 57 084 at the beginning of the year and 1.6 percent higher than the previous Friday close. 

The Resources 10 index on Friday traded 3 224 points,  or 5.9 percent, higher than the January 1 level. The Index is now on a record level for the year, beating the 50 891 highest level of  January 20  with 3.1 percent.

The Industrial 25 index closed on Friday on 76 314. This is 7 011 points, or 10.1 percent, higher than the start of 2020.