South African investor confidence is on the rise again

JOHANNESBURG – South African markets closed in the green yesterday as investors continued to remain optimistic that the worst of the coronavirus pandemic had passed following further easing of lockdown restrictions globally.

The JSE All Share Index climbed 1.32percent to 49832 points, while the Top40 Index ticked up 1.30 percent to 45797points, pulled by slight gains in the gold mining sector. But the rand failed to track the positive sentiment, trading 0.39percent weaker at R18.76 against the US dollar by 5pm.

Earlier, there were fears that gold stocks would dip as the gradual easing of some Covid-19 restrictions by several nations raised prospects of more global economic activity, denting demand for the safe-haven metal.

However, the mining index rose 2.84percent to 42138 points, with Gold Fields 3.41percent firmer at R146.95, AngloGold Ashanti 4.63percent higher at R476.17 and DRDGold 1.25percent stronger at R17.75. Harmony Gold, however, fell 9.03percent to R64.50, and Sibanye-Stillwater eased 0.53percent to R35.45.

The banking index also eased 2.67percent to 5005points, while the general retailers index fell 1.83percent to 3 256 points.