News24
13 Jan 2021, 21:42 GMT+10
The Johannesburg Stock Exchange index gained 0.5% as of 09:49 in Johannesburg, heading for a fresh record close, as mining stocks benefited from optimism over US stimulus spending that could spur an economic rebound and boost demand for metals.
The FTSE/JSE Africa All Share Index resumed its advance after falling Tuesday for the first day in seven, pausing a rally that saw the gauge notch up four all-time closing highs. South African stocks have rebounded almost 70% from the low plumbed last March during the global selloff spurred by the pandemic.
Anglo American [JSE:AGL], the diversified mining giant, gained 0.5% and peer BHP Group rose 0.3% to be among the leading contributors to the overall market strength. An index of mining stocks was 0.6% higher, snapping three days of losses.
Fuel and chemicals producer Sasol [JSE:SOL] rallied a further 3.7% to a seven-month high, with oil poised for the longest winning streak in almost two years. Sasol has surged 31% this month, making it Johannesburg's top-performing stock of 2021 so far.
Naspers [JSE:NPN], the global tech investor that carries the biggest weighting in the benchmark index, advanced 1.4% to provide the biggest boost to the gauge as partly owned Chinese online giant Tencent rose in Hong Kong, helping MSCI's index of Asia-Pacific stocks head for another record high.
Foreigners were net purchasers of R1.5 billion of South African shares on Tuesday, according to figures from exchange operator JSE, bringing net inflows over the past three days to about R6.5 billion.
Get a daily dose of Nigeria Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nigeria Sun.
More InformationHARARE - Zimbabwe's government held burials Wednesday for two Cabinet ministers and a former prison official who died from COVID-19. ...
On Friday, January 22, 2021, the Treaty on the Prohibition of Nuclear Weapons (TPNW) became international law for the 122 ...
Since September, the devastation wrought by the COVID-19 pandemic has deepened, infecting close to 100 million people, costing more than ...
The Russian vessel tapped to finish the controversial Nord Stream 2 gas pipeline has begun work in Danish waters just ...
President Joe Biden has issued an executive order that overturns a ban on transgender people serving in the U.S. military.In ...
NEW DELHI, India - India and China have agreed to push for an early disengagement of the frontline troops in ...
HARARE - Zimbabwe's government held burials Wednesday for two Cabinet ministers and a former prison official who died from COVID-19. ...
Since September, the devastation wrought by the COVID-19 pandemic has deepened, infecting close to 100 million people, costing more than ...
Tanzanian President John Magufuli has warned his health ministry against rushing to adopt COVID-19 vaccines, suggesting the vaccines may not ...
Shortly after the Seattle Seahawks on Wednesday issued a strong statement regarding the felony arrest of their now former offensive ...
The Seattle Seahawks on Wednesday issued a statement regarding the felony arrest of their now former offensive lineman Chad Wheeler, ...
MOGADISHU - Somalia's prime minister this month announced a 30 percent quota for female lawmakers chosen in upcoming elections. If ...