Futures jump as JSE closes higher on resources due to positive US sentiment
South African futures jumped on Wednesday as resources stocks gained on the JSE on positive sentiment following President Donald Trump’s address to Congress. After breaking its 12-day winning streak on Tuesday, the Dow surged above 21,000 for the first time in early evening trade. At 5.43pm the Dow was 1.23% higher at 21,068.44. US banks and oil stocks were sharply higher as these sectors would benefit from policy changes in the Trump administration, although Trump did not provide many policy details in his address. European markets also rallied with the FTSE 100 gaining 1.5%. The Paris CAC 40 was 2.23% higher while the German Dax added 1.88%. The JSE all share closed 1.05% higher at 51,682.20 and the blue-chip top 40 added 1.24%. Resources rose 2.26% and banks gained 1.82%. Food and drug retailers lifted 1.52%. Industrials were up 0.77%. The gold index shed 1.75% and platinums lost 0.92%. Property was off 0.21% after opening 1.2% lower in the morning. At 5.44pm, the local near-date...
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