Futures higher as JSE firms and US markets head for new highs
South African futures were higher on Wednesday as the JSE all share was lifted by a fairly big gain in Naspers, while the Dow Jones opened firmer, with US markets heading for new records.
At 5.54pm, the Dow Jones industrial average was up 0.30% at 22,065.90 points ahead of the release of the US Federal Reserve’s latest minutes, which may indicate when the Fed intends to start shrinking its inflated balance sheet.
European markets were in positive territory on upbeat company results with the FTSE 100 last seen up 0.64%, the CAC 40 0.74% and the DAX 0.69%.
The all share gained 1% to 55,534.6 points and the top 40 1.14%. Resources added 1.4%, industrials 0.97%, banks and financials both 0.86%, and property stocks 0.54%.
Commodity prices rebounded in late trade, with platinum firming 0.46% to $966.92 an ounce, and gold 0.11% to $1,272.07. Brent crude, however, was 0.51% lower at $50.71 a barrel.
The rand was at R13.2345 to the dollar from R13.3216.
The top-40 Alsi futures index gained 0.97% to 49,071 points. The number of contracts traded was 21,846 from Tuesday’s 20,424.