The JSE hit another fresh all-time high yesterday, with the All-Share Index advancing above 84 000 index points for the first time, mainly pushed up by gold miners, with bullion hovering at record levels.
Stocks at the JSE were buoyed by Sibanye-Stillwater surging 3.9 while Harmony Gold, DRDGold, Gold Fields, and AngloGold Ashanti rising between 2.7 and 3.6.
The gold price was holding steady above the 2 500 level while the oil price slipped with the easing of geopolitical tensions in the Middle East, along with ongoing demand concerns out of China were weighing on the price of oil.
Sasol fell the most by 6.2 after it reported a R44 billion loss for its latest financial year ended June 30, the first since 2020 amid a challenging economic environment and a massive R75bn impairment.
Market sentiment continued to be supported by expectations that the US economy will dodge a recession, and cooling inflation will spur interest rate cuts soon. Meanwhile, traders are keeping an eye on economic data from several economies, alongside corporate earnings.
