JSE at highest level in two months
The JSE pushed higher in broad-based gains on Wednesday, closing above 53,000 points for the first time in two months, lifted by positive international and domestic news.
Clear signs the White House is seeking to strike a trade deal with China soon helped improve global sentiment, while local data was also positive.
A sharp rise in the oil price slightly spoilt the mood for domestic equities.
The all share gained 2.03% to 53,222.9 points and the top 40 2.22%. Industrials added 2.51%, gold miners 2.96%, resources 1.9%, banks 1.22% and financials 1.25%.
Trading ex-dividend, diversified miner BHP slumped 4.13% to R289.
The Absa purchasing managers index, which gauges activity in the manufacturing industry, rose from 49.5 points in November to 50.7 in December.
Looking ahead, a meaningful and sustained rebound in manufacturing sector activity is likely to be curtailed by slowing global trade momentum, Investec economist Kamilla Kaplan said. Load-shedding poses a risk as well.
Thursday sees the release of the SA Chamber of Commerce and Industry’s business confidence index for December, as well as manufacturing data for November.