JSE higher on renewed risk appetite
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.