South African futures were higher on Thursday as the all share gained and the Dow opened firmer after US President Donald Trump indicated tax reforms were in the offing. Trump promised lower taxes in his election campaign but plans have not come to fruition yet after delays changing the legislation in US congress. The rise in US equity markets so far this year is largely based on Trump’s promised tax reforms. The Dow had gained 0.24% by the JSE’s close. European markets were firmer on a weaker euro with the FTSE 100 adding 0.96%, the CAC 40 0.75%, and the DAX 30 0.57%. The all share closed 0.63% higher at 56,522.10 points and the blue-chip top 40 added 0.65%. Resources rose 1.18%, food and drug retailers 0.88%, industrials 0.58%, gold 0.43%, and property 0.36%. Platinum shed 0.57% and banks 0.16%. Banks and financials showed muted response to lower producer inflation with the producer price index (PPI) moderating to 3.6% in July from 4% in June. The gold price added 0.70% to $1,317....
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.