Wednesday, 11 November 2009
November 12, 2009 by Andrew Philbrick · Leave a Comment
London, 23.30
Local
The Johannesburg Securities Exchange (JSE) ended higher today thanks to a continuing weak US Dollar boosting resources, the gold price has risen to $1,108 per ounce.
Indices (at close of trade)
| Index | Value | Rise / Fall |
| All Share | 26,663 | +1.09% |
| Top 40 | 24,021 | +1.12% |
| Resource 20 | 48,968 | +1.40% |
| Industrial 25 | 20.588 | +0.85% |
| Financial 15 | 7,294 | +1.02% |
Currencies (at close of trade)
| 1 US Dollar buys R7.32 (Rand rose 1.03%) |
| 1 Euro buys R11.03 (Rand rose 0.94%) |
| 1 British Pound buys R12.18 (Rand rose 1.84%) |
International
Indices (at close of trade)
| Index | Value | Rise / Fall |
| Dow Jones Industrial Average (US) at close | 10,291 | +0.43% |
| FTSE 100 (UK) at close | 5,267 | +0.69% |
United States
The S&P 500 Index in the US rise to a 13 month high today, boosted by good news in China that its production has grown significantly. In addition, 80% of US companies in the S&P 500 Index that have released third quarter results beat analyst expectations, meaning that overall the real economy is recovering well.
Bank of England May Continue Stimulus
Despite his mood last week hinting that the Bank of England (BoE) may stop financial assistance to troubled banks and companies, Governor Mervyn King said he is leaving the door open to more stimulus packages as the two year inflation forecast remains below 2% in the UK. The consequence of pumping money into an economy as the BoE and other central banks have done in recent past is that the increase in money supply leads to inflation, clearly the 2% inflation potential generated thus far isn’t enough to discourage more aid to boost the financial economy.