Resources uptick gives JSE a fillip The JSE joined the rally on global stock markets yesterday morning, with all major indices substantially higher by mid-morning. The rally started overnight on Wall Street where the three major US indices - the Dow Jones, Standard & Poor''s and Nasdaq - all closed on record highs. Asian stocks rose to one-week highs on Tuesday and European markets opened higher, following Monday''s gains.
The All-share Index traded above 51 000 for the first time in November when it gained 1.23% to 51 221 points by mid-morning on Tuesday. The Top 40 index was at that stage 1.33% stronger at 44 757 points.
The market was pulled higher by the resources index, which gained 2.7% by mid-morning on the back of a stronger oil price and the upward tendency in commodity prices.
The fact that the dollar consolidated at current levels also supported commodities.
NEWS24