MARKET WRAP: JSE and rand gain as dollar softens after Trump inauguration
The JSE made broad-based gains on Monday as miners got a boost from the weaker dollar, which softened almost immediately after US President Donald Trump’s inauguration. The rand also strengthened on the softer greenback while bonds maintained a firmer bias. Gold shares were boosted by a firmer gold price, which had added 0.41% to $1,213.36 by the late afternoon. Platinum stocks were higher despite the platinum price trading weaker for most of the day. It was flat at $979 an ounce at the JSE’s close. In his first speech as president, Trump took a protectionist stance, leading to some confusion in the market as to how that related to his fiscal stimulus and high growth approach during the campaign. He said the North American Free Trade Agreement between the US, Canada and Mexico would be renegotiated, with some analysts fearing 14-million jobs in the US could be affected. The all share closed 0.97% higher at 53,040.50 points and the blue-chip top 40 rose 1%. Platinums leapt 4.94%, the...
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.