The JSE pushed higher in broad-based gains on Wednesday morning, boosted by improved global sentiment after the US Federal Reserve signalled interest-rate cuts were on the way.
“Powell gave the markets what they wanted to hear, and the result was a spectacular rally, as traders increased their bets of a rate cut happening before the year-end,” London Capital Group head of research Jasper Lawler said. On Wednesday at 10am, the all share was up 1.12% to 57,134.9 points and the top 40 1.2%. Gold miners were up 3.95%, platinums 2.81% and industrials 1.02%.
Gold was up 0.61% to $1333,43/oz and platinum 0.9% to $827.47. Brent crude was 0.23% higher at $61.50 a barrel.
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