Good start to 2009!

The JSE ended the first trading session of the New Year more than 255 points today pushed up by rising resource shares and also took direction from a strong opening on Wall Street. At the close, the JSE All Share Index had gained 1.19%, with resources firming 4.24%, platinum miners adding 4.96% and gold stocks strengthening 1.25%. However, banks and financials lost 1.73% and 0.84% respectively, and industrials shed 1.17%. The Rand was last bid at R9.36 against the US Dollar, unchanged from when the JSE closed on Wednesday, while the gold price was last quoted at US$877.20 a troy ounce from US$868.45/oz at the JSEs last close. Petrol pump prices are expectyed to drop by about 18% next week Wednesday to the lowest since March 2007 due to a drop in the international oil price, as well as a stronger Rand against the Dollar, which will help to ease inflation