BEST PERFORMANCE
JSE puts its best foot forward, buoyed by Fed
The Fed raised interest rates for only the third time since December 2015
The JSE shot up to a best percentage gain for the year on Thursday, while the rand firmed to a 16-month best against the dollar after the US Federal Reserve issued a less-than-hawkish outlook for the year.The Fed raised interest rates for only the third time since December 2015.Trading on the JSE was characterised by high volumes of about R38bn as a result of the March quarter futures close-out. Last week, volumes rarely topped a daily R15bn.The weaker dollar was a boon for commodities, with spot platinum jumping 0.57% to $958.19/oz. Gold was up 0.72% to $1,227.91/oz after gaining $25 in overnight trade on Thursday.The rand broke through the R13/$ level in overnight trade on Thursday to R12.76 and recorded further gains to R12.6814, the best level since August 2015.The JSE closed 2.03% higher at 52,749, the best percentage gain so far this year. The highest level for 2017 was on January 26 at 53,405.70.Analysts said the 25-basis-point increase by the Fed was as expected, but that th...
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