Stocks at the JSE surged to a fresh all-time high yesterday as market sentiment improved further across global markets after dovish US Federal Reserve Fed minutes reinforced bets policymakers will cut interest rates in September.
The JSE all share index rose 0.9 to touch 84 800 index points for the first time in history, extending gains for the second day and reaching fresh record highs, buoyed by resources, financials and telecoms stocks.
Sasol surged by 6.7 to R145.00 per share, followed by Karooooo, which rose 5.5 to R675.00 per share, while Shaftesbury Capital went up by 4.5 to R34.51, and Telkom and Richemont were 2.7 and 2.6 higher to R26.71 and R2 914 per share, respectively.
Mining and banking stocks, however, were among those which fell the most yesterday.
Sibanye-Stillwaters stocks were 1.3 down to R19.48 per share even after the company announced that it had secured an additional 500 million debt financing to complete a new lithium mine in Finland.
