Investec gained some ground shrugging of the negative news of the past two days. It gained 20c to close at R154.00 and Stanbic gained 60c to R31.60. The share closed at R7.30 down 10c. The rand traded in a tight range today drifting from higher levels earlier this morning. The US A batch of encouraging profit reports set off a rally on Wall Street Thursday that returned two major stock indexes to pre-terrorist attack levels.
Stocks face plenty of hurdles ahead.
But Thursday's milestone held symbolic power for a market that reopened only three weeks ago last Monday. The market is not without challenges. First-time claims for jobless benefits, though lower last week, remained high, the government reported Thursday. Retailers posted mostly disappointing sales figures last month. And looking ahead, consumer confidence figures due Friday are expected to be weak.