JSE at new high on US expectations
Fin24 - Dec 13th 2012, 08:43
Johannesburg – The JSE rallied to close at a new high on Wednesday‚ with platinums and resources providing a boost. Hopes that the US Federal Reserve could announce new stimulus measures lastnight helped to buoy both local and global market sentiment.
“There is optimism about the Federal Open Market Committee in the US announcing that they are keeping monetary stimulus in place and market participants believe that a solution to the fiscal cliff issue will be found in time‚” said Gary Booysen‚ trader at Vunani Private Clients.
At 17:00‚ the All Share [JSE:J203] index was up 0.59% to 38 763.64 points‚ with the Top 40 - (Tradeable) [JSE:J200] index nudging up 0.51% to 34 415.32 points.
Leading European markets were trading modestly firmer‚ with the UK’s FTSE 100 gaining 0.17% by 17:08 local time‚ while the Dow Jones Industrial index was 0.17% firmer at 13 271.26 points.
“We had a heavy data day yesterday starting off with CPI out in Germany‚ in line with expectations‚ then inflation out of France that was a little lower than expected. We had good data out of Europe and the US and markets seem to be ignoring the fiscal cliff‚” said Booysen.
“There is general optimism about the FOMC meeting in the US and optimism that stocks will rise due to the higher inflation that would be caused by further monetary stimulus‚” he added.
Barclays Bank said in its daily global update that the US central bank is expected to announce a further asset purchase programme to replace Operation Twist‚ which expires at the end of this year.
“Despite the positive November US employment report‚ we expect the Fed to convert its purchases of long-term Treasury securities under the maturity extension programme into open-ended purchases when it meets later on Wednesday‚” the bank said.
Inflation eases even more than expected
21/08/2019 - 10:36
Inflation eased more than expected to 4% in July.
Inflation steady at 4.5% in June
24/07/2019 - 13:08
Consumer inflation was slightly higher than expected in June, unchanged from May’s 4.5%, but remained at the midpoint of the Reserve Bank’s 3%-6% target range.
Truworths falls 6% on JSE after restructure call
03/07/2019 - 15:32
Truworths fell more than 6 percent on the JSE after it told investors that it had approached lenders to embark on steps to restructure the R801 million debt of its UK-based Office shoe brand, whose operational performance has continued to deteriorate.
Inflation accelerates slightly in May
19/06/2019 - 11:24
Inflation accelerated slightly to 4.5% in May, giving impetus to calls for an interest cut in July.
Inflation falls to 4.5% for December
23/01/2019 - 10:04
Annual headline consumer price inflation moderated to 4.5% for December, according to Statistics South Africa.