Johannesburg - The resources sector pushed the JSE all-share index to a fresh record high above the 37 000 level on Wednesday‚ boosted mainly by buoyant world markets.
At 5pm‚ the JSE All Share [JSE:J203] ended 0.81% higher at 37 274.68‚ with the Top 40 - (Tradeable) [JSE:J200] index nudging up 0.82% to 33 037.18. The resource index gained 1.93% and platinum counters rose 2.85%.
“The US third quarter earnings continue in the main to beat a very low bar that has been set. Coupled with positive economic data‚ that is boosting commodities‚” Asief Mohamed‚ chief investment officer at Aeon Investment Management. “We saw a switch from defensive shares to cyclical shares.”
Leading European stock benchmarks remained firmer in late trade‚ with London’s FTSE 100 last seen 0.76% higher.
Speculation that Spain was edging closer to requesting a sovereign bailout added a bullish tone to global stocks. The request would trigger the bond buying offer announced by the European Central Bank in the recent past to suppress the borrowing rates of the fiscally challenged eurozone countries.
Among individual shares‚ Anglo American rallied 3.90% to R264.50‚ BHP Billiton rose 2.16% to R279.91‚ Impala Platinum was up 2.97% to R156.15 and Lonmin climbed 5.16% to R72.72.
Kumba Iron Ore gained 2.01% to R515 and African Rainbow Minerals jumped 4.14% to 177.31.
Among industrials‚ Barloworld gained 2.77% to R72.98 and financial services firm MMI Holdings lifted 2.84% to R21.75.
Retailer Mr Price was 2.43% in the black to R128.96.