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Going along nicely

04 July 2005 Angelo Coppola

The JSE (+0.46%) traded higher yesterday while the value traded were only R1.5bn compared to the usual R3bn – R4bn.

The thin trading was a result of the US markets being closed for their Independence Day. The movers of the day were BHP Billiton (2.31%) and Sasol (1.58%) while the gold miners ignored the stronger currency and weaker gold price (-1.57%) to trade almost 2% higher.

The sharers were Nampak (-2.74%), Barloworld (-1.80%) as well as PPC (-1.24%). The rand strengthened against the majors as Platinum dropped $10 while oil (0.87%) moved higher. The Far East is depressed this morning being dragged lower by Bridgestone on fears that the continued rise of the oil price will remain a risk for stocks.

The FTSE in London were the only European market that recorded any move worth noting, as the higher oil price boosted Shell and BP, while the broadcaster ITV was also traded higher.

Trading on the JSE should see higher volume than yesterday as the Yanks come back from their long weekend.

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