Global markets rose on Tuesday as upbeat earnings from Wall Street and improved investor appetite lifted stocks.
Tech giant, Alphabet, reported earnings which beat earnings estimates which saw the stock rise in after-market trading in the USA overnight. At the US open on Tuesday, the Nasdaq powered to a new all-time high as investors piled into the tech-heavy index.
The JSE started off on the back foot but it managed to reverse those losses and track other global indices higher.
Miners led the gains on the All-Share index were Anglo American Platinum [JSE:AMS] continued on its post-earnings results rally to gain another 7.11%, to end the day at R385.60 per share.
Other significant gains on the day were recorded in Aspen [JSE:APN] which climbed 3.31% to close at R250.93, as well as Discovery Limited [JSE:DSY] which firmed to R167.72 per share after adding 3.53%.
Losses were fairly modest on the blue-chip index were Vodacom [JSE:VOD] retraced for a second consecutive session to close at R125.51 after shedding 2.6%.
Steinhoff International [JSE:SNH] briefly traded below R2 as it reached a session low of R1.92 per share.
The local bourse managed to gain momentum and close significantly firmer, which saw the JSE All-Share index climb 0.88% and the JSE Top-40 index gain 1.01%.
The Resources index benefitted the most as it rose 2.64%, while the Financials and Industrials indices added 1.22% and 0.12% respectively.
The rand strengthened to a session high of R13.28 against the greenback following the news of a significant investment into South Africa by China.
The rand was trading 1.14% firmer at 17.00 CAT to be recorded at R13.29/$.
Gold opened weaker on Tuesday but it clawed back to eventually trade in the green as the dollar retraced.
At 17:00 it was trading 0.33% firmer at $1228.37/oz. Platinum was trading 1.35% firmer at $843.40/oz while Palladium was up 1.03% at $924.39/oz.
Brent crude advanced in today’s session as investors were anticipating a draw in US stockpiles data. The commodity was trading 0.79% firmer at $73.64/barrel just after the JSE close.
At 17:00, Bitcoin was trading 5.86% firmer at $8165/coin, while Ethereum was up 2.36% at $472.88/coin.
* The JSE market update is from GT247.com, an online broker and authorised financial services provider.