JSE higher on re­newed risk ap­petite

The Star Early Edition - - PRICES - Reuters

SHARES edged higher yes­ter­day in line with emerg­ing mar­ket peers on re­newed risk ap­petite af­ter the US Dow Jones in­dus­trial aver­age in­dex broke past 20 000 points on Wed­nes­day.

The bench­mark JSE Top40 in­dex was up 0.28 per­cent at 46 497.5 points, while the all share in­dex gained 0.29 per­cent to 53 405.74 points.

Lon­min was among the big­gest movers on the bourse, skid­ding more than 20 per­cent af­ter the plat­inum miner re­ported below-fore­cast quar­terly pro­duc­tion. Its shares closed 22.56 per­cent lower at R23.31. MTN gained 3.6 per­cent to R132.04,

while Mr Price ad­vanced 2.78 per­cent to close at R166.56.

Mean­while, the Dow Jones, a key in­dex of global eq­uity mar­kets, held near the record high yes­ter­day, sup­ported by merg­ers and ac­qui­si­tions, strong cor­po­rate earn­ings and in­vestor op­ti­mism spurred by US Pres­i­dent Don­ald Trump’s plans for new pub­lic spend­ing.

MSCI’s world in­dex, which tracks shares in 46 coun­tries, was lit­tle changed and just 2 per­cent off its record high hit in April 2015. The in­dex found sup­port from ral­ly­ing stocks in Asia and Europe.

The Stan­dard & Poor’s 500 and the Nas­daq Com­pos­ite hit record lev­els im­me­di­ately af­ter the open yes­ter­day, be­fore eas­ing off their highs.

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