Loading...
See More

Miners push JSE to another record

Dec 12 2012 15:10 I-Net Bridge


Related Articles

Miners and world markets weigh on JSE

Miners‚ banks lead JSE higher

Miners‚ resources drive JSE rally

JSE ends week on fresh high

JSE up a fraction‚ gold miners weigh

Miners‚ industrials keep JSE up

 
Johannesburg – Mining shares lifted the JSE to another record high on Wednesday. The All Share [JSE:J203]index has gained more than 1% this month contributing to a 20% rally in the year to date.

At 12:33‚ the All Share index was up 0.24% to 38 628.52 points‚ with the Top 40 -(Tradeable) [JSE: J200] index nudging up 0.22% to 34 316.29‚ another record high.

Mohammed Nalla‚ head of strategic research at Nedbank Capital‚ said “The SA share market continues to find momentum on the back of expectations for further monetary policy stimulus from the US Federal Reserve. The US central bank is today expected to announce a further asset purchase programme to replace Operation Twist‚ which expires at the end of this year.” 

He also said that the market expected a resolution to the fiscal cliff debate in that country soon.

“As such‚ the wash of international liquidity and optimism has buoyed financial assets despite a bleak underlying economic picture. SA’s fundamentals appear weak‚ but SA continues to benefit from global sentiment leading to strong equity portfolio inflows from last week‚ continuing into this week. This has corresponded with a stronger rand‚” he said.

Leading European markets remained modestly higher‚ with the UK’s FTSE 100 gaining 0.27% by 12.18pm local time.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

equities  |  markets; jse
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...