The US’s two main stock market indices, the S&P 500 and Nasdaq, set fresh record highs on Wednesday. The JSE’s top 40 and all share indices are nearing records set two years ago. Kumba Iron Ore’s 17.34% surge to R203 on Tuesday helped the all share index rise 0.24% to 54,499 points. The all share index needs to gain another 1.57% to match the 55,355 it reached on April 24 2015. Kumba’s parent Anglo American’s 7.49% rise to R199.55 along with Sasol’s 4.21% rise to R387.58 helped the JSE’s top 40 index gain 0.34% to 48,223 points on Tuesday. The top 40 needs to rise another 2.1% to break the 49,229-point record set on November 4 2015. Wednesday is likely to be a jittery day for markets awaiting interest rates announcements from the US and Brazilian central banks. The US Federal Reserve Bank is expected to announce at 8pm local time that it is keeping the ceiling of its funds rate at 1.25% after raising it 25 basis points on June 14. The Brazilian central bank at 11pm is expected to cu...
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.