The JSE reached a six-week high on Monday, powered mainly by mining shares.The all share had gained 0.36% to 60,300.40 points by lunchtime, though overall trading activity was lower than usual because of a public holiday in the US.Mining shares benefited from a continuing rise in metal prices, thanks to a weaker dollar and underlying demand for commodities.Anglo American rallied through R300 a share for the first time since 2012, having now gained about 18% since the start of 2018, equating to a gain of roughly R62bn in its market value.Volatile gold stocks and platinums also enjoyed a decent morning amid higher precious metal prices, which more than offset a relatively stronger rand. Financial stocks were modestly higher, after a few days of apparent consolidation."We [are] heading for the longest rally of almost 10 years, and do we see a continuation this year? I think so," said Michael Porter, analyst at Unum Capital, referring to broader equity markets.Woolworths was a weak spot...
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.