Resources stocks keep driving the JSE higher
Thanks to heavy lifting from resources shares, the JSE all share was rallying for the second day running
The JSE rallied for the second day running on Tuesday, with the all share rising 0.44% to 53,275 points at lunchtime. The all share’s record high of 55,355.10 was set in 2015. Resources shares did the heavy lifting, thanks to higher commodity prices, including copper that hovered at about $82 a tonne. Diversified miners gained 2.42% and platinums 1.21%. Analysts at Momentum SP Reid Securities said commodities continued to benefit from a weaker dollar. Financial stocks and retailers, which are sensitive to interest rates, were mixed just before the Reserve Bank’s repo-rate decision. Economists expected the Bank to hold the repo rate at 7%. Governor Lesetja Kganyago’s statement will be closely scrutinised for clues on the central bank’s inflation outlook. European share markets were positive in line with US stock futures, suggesting Wall Street might rebound from recent weakness. Donald Trump, US president for less than a week, is still the global market focus. "The protectionist elem...
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