JSE hits all-time high on US deal

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IOL business jan2 jse Independent Newspapers File photo: Simphiwe Mbokazi

Johannesburg - The JSE reached an all-time high after noon on Wednesday as news of the effect of the deal to avert the US fiscal cliff hit global markets.

"The aversion of the fiscal cliff has been very good for all emerging markets‚ it has increased investors' risk appetite‚" Vunani Private Clients global market analyst Kuziva Muganiwa said.

At 12.39pm‚ the all share index was 1.59% higher at 39‚874.97 points.

The Hang Seng closed 2.89% up and the FTSE is currently 1.86% higher and the CAC 1.99% stronger.

The resources index increased by 3.64%‚ gold stocks gained 1.45% and there was a 2% rise in the platinum index.

"We can expect investors to keep investing in equities for some time‚" Muganiwa said.

On the JSE‚ BHP Billiton (BIL) jumped 4.32% to R305.55‚ Anglo American (AGL) surged 5.79% to R274.60‚ ArcelorMittal (ACL) gained 5.06% to R37.82 and Exxaro (EXX) was 4.32% up at R176.30.

Amplats (AMS) gained 2.69% to R458.35‚ Aquarius (AQP) was up 8.40% at R8.00‚ Lonmin (LON) added 3.70% to R40.35 and Coal of Africa (CZA) rose 3.64% to R2.28.

- I-Net Bridge



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