JSE ends firmer in line with global markets as Hillary Clinton’s chances improve
With Hillary Clinton’s chances of becoming US president improving, the JSE surged with global markets, but the gold index plunged as investors sold safe-haven assets
The JSE surged on Monday in line with global markets with an improvement in US Democratic Party presidential candidate Hillary Clinton’s prospects of beating Republican Donald Trump. The US goes to the polls on Tuesday to elect that country’s 45th president. Market sentiment rose on the view that a Clinton victory was less likely to create market volatility. Old Mutual multimanagers Dave Mohr and Izak Odendaal said markets had clearly signalled their preference as every uptick in support for Trump shown in opinion polls prompted a sell-off. It would be a shock if Trump won, they said, but it was important to realise how little influence a US president actually had on economic matters as Congress made most of the decisions. "If Clinton wins as indicated by the latest polls she would likely be hamstrung by a Republican-controlled Congress. Even with a popular vote behind her, she might be a lame-duck president from day one. This is possibly also weighing on markets," they said. The JS...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.