|
South Africa's market momentum could lift JSE higher
SOUTH AFRICA'S markets could run up another 14% in the next three months if US data remained firm and the bullish momentum continued, analysts have said as the JSE all share index (Alsi) moved to a fresh record. In the past 12 months the Alsi has gained almost 35% but it is the small-cap index that has outshone the rest with a gain of more than 46%.
The Alsi powered ahead in early trade to hit a record high of 28,636 points, following a gain for Asian stocks. However, it later fell back to close at 28,150 points on the back of fast and furious profit-taking. Doug Blatch, chief dealer at Investec Asset Management, said that based on the performance of US markets dealers had come in expecting some profit-taking on the JSE.
Impala Platinum and MTN. Helping the resources market along was London-based ETF Securities, which said it would launch physically backed exchange traded funds based on platinum, palladium, gold and silver on the London Stock Exchange.
|
