Loosing streak continues

Players were reluctant to buy stock ahead of the Easter weekend.

The losses came despite a weaker rand.

The All Share Index finished 0,79% softer. Resources retreated 1,44%, the gold mining index gave up 1,75% and the platinum mining index lost 0,34%. The All share Industrial Index was off 0,33%. The financial and banks indices fell 0,55% and 0,22% respectively.

The rand was quoted at R6,23 against the dollar from R6,20 when the JSE closed on Wednesday while gold was quoted at R425,30 from $426,75 at the JSE's close.

It was another negative day even though the rand was weaker. One dealer said they didn't want long positions ahead of the long weekend.

There were no fundamental reasons for the JSE's weakness. Sentiment was negative and foreigners had been selling local shares. Heavyweight dual-listed stocks were down offshore.

Bonds were between two and three basis points firmer on Thursday, buoyed by a recovery in US treasuries and a stronger rand. At 4pm, the R153 bond was yielding 8,1905 - three basis points stronger than Wednesday's close of 8,22%.