JSE rockets over 6% on world markets

Yesterday may have been a good day to buy SASOL, to day Sasol is just under R341. Today might be a good day to sell your Old Mutual Stock.

The markets are up on the perception that a package is being developed that will SAVE the markets. So essentially we're seeing hubris driving the markets into extreme vertical games of ping pong.

clipped from www.businessday.co.za clipped from www.businessday.co.za "We could come right back down if the plan is not welcomed. For now, the party is still on, but in a controlled manner," one Johannesburg-based trader said. Sasol gained R19,17, or 5,96%, to R340,92. Pressured by the retreat in the gold price, AngloGold fell R12, or 5,71%, or R198, Gold Fields lost five rand, or 6,85%, to R68 while Harmony was down R4,63, or 5,89%, to R73,92. Financial services group Old Mutual gained R1,50, or 13,51%, to R12,60 and Sanlam was up 81 cents or 4,78%, to R17,74. Among bankers Standard Bank jumped R6,12, or 7,57%, to R87, Absa was up R6,51, or 6,35%, to R109, FirstRand gained 85 cents, or 5,48%, to R16,35, while Nedbank was up R6,10, or 6,61%, to R98,40. Elsewhere on the JSE, brewer SABMiller was up R5,07, or 2,92%, to R178,50 and Bidvest was up R2,50, or 2,36%, to R108,50.