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SA stocks hit record highs on Fed move

Cape Town - The JSE rose to record highs, in line with a surge in global markets, after the US Federal Reserve said it will not taper its asset-buying programme for now.

The surprise decision by the US Federal Reserve to keep its $85bn stimulus programme intact had a positive effect on emerging market currencies.

Both the benchmark Top-40 (Tradeable) [JSE:J200] index and the All Share [JSE:J203] index were up nearly 2% in early trade on Thursday, hitting all-time highs of 39 612.64 and 44 179.84, respectively.

Resources saw the biggest gains with Harmony Gold [JSE:HAR] up 10.71% at R38.97, Anglogold Ashanti [JSE:ANG] up 9.66% at R137.18, and Gold Fields [JSE:GFI] up 6.62% at R50.11.

Among the biggest losers were Aveng [JSE:AEG] dropping 0.67% to trade at R25.33 and Adcock Ingram losing 0.32% to trade at R68.80.

In other markets, gold was up 4.67% at $1 364.63 an ounce, while the rand was trading near four-month highs at RR9.5660/$


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Rand - Dollar
18.87
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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