JSE firmer as Dow surges ahead of probable Clinton victory
Barclays Research predicts a moderate rally in US equities if Hillary Clinton were to win, but does not expect new highs in the short term
The JSE opened firmer on Tuesday ahead of the US presidential election with the Dow closing more than 2% higher on Monday in anticipation of a victory by Democratic nominee Hillary Clinton. Clinton is leading on average by four percentage points against Republican candidate Donald Trump, within the margin of error that could lead to a Trump victory. However, Clinton has a solid lead in the electoral college, although some battleground states, including North Carolina and Florida, are too close to call. At 9.35am the all share was 0.60% firmer at 50,607.30 points and the blue-chip top 40 also added 0.60%. Platinums gained 1.66%, banks 1.55%, food and drug retailers 0.85% and resources 0.84%. The Dow closed 2.08% higher on Monday in a broad-based rally led by financials, industrials and healthcare stocks. Barclays Research predicted that a Clinton win should see a moderate rally in US equities. "We see the S&P 500 rallying to 2,150-2,175 if Clinton wins, but near term do not expect ne...
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