JSE firmer on positive post-Trump speech sentiment
The all share and blue-chip top 40 move slightly up at midday, and the probability of US Fed interest rate hikes is now seen by many as more likely
The JSE was slightly firmer on Thursday at midday, drawing support from the positive market sentiment flowing from US President Donald Trump’s speech, which saw the Dow rally and break through the 21,000 level on Wednesday. Rand Merchant Bank analyst Isaah Mhlanga said the probability of interest rates being increased in the US by the Federal Reserve went from 60% to 80% on continued optimism on the back of strong data and hawkish comments from the Fed officials. However, TreasuryOne dealer Andre Botha said the positive sentiment from Wall Street would most likely cancel out the expectation of a rate hike in March. The Dow Jones industrial average closed 1.46% higher at 21,115.55 points with the dollar seeing a modest improvement, closing stronger against other major currencies. Asian markets were mixed in the morning with the Nikkei 225 gaining 0.88% while the Shanghai Composite and Heng Seng lost 0.52% and 0.2% respectively. At 12.03pm, the all share was up 0.22% at 51,798.3 point...
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