• The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

  • Web of dependency

    Zupta defenders are playing cat and mouse with ratings agencies, says Solly Moeng.

All data is delayed
Loading...
See More

Mining stocks fuel JSE rally

Nov 29 2012 13:54
I-Net Bridge
Johannesburg - Mining stocks powered the JSE to within a whisker of a record high on Thursday amid renewed global risk appetite.

At 12:36‚ the All Share [JSE:J203] index was up 1.01% to 37 817.38 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 1.09% to 33 587.97. Gold and resource stocks rallied 5.07% and 2.20%‚ respectively.

“The rally is heavily weighed towards mining houses due to strong commodity prices but also boosted by Gold Fields’s announcement‚” said Mark Wilkes‚ trader at GT247.com.

Leading European markets were similarly higher at noon‚ with UK’s FTSE 100 climbing 0.89% amid revived hopes that the US political authorities will find a deal to stave off the looming fiscal cliff of spending cuts and tax hikes‚ due to kick in in January.

“It is a reverse in global sentiment after equities sold off on Wednesday on fear about the US fiscal cliff‚” Sasfin Securities director David Shapiro said.
equities  |  jse  |  markets  |  stocks

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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...