Anglo, Glencore reach new highs on soft dollar as resources rise

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The new JSE logo. (Supplied)
The new JSE logo. (Supplied)

Johannesburg - Some of the big dual-listed commodity giants on the JSE traded at new 52-week highs on Wednesday, as the weak dollar supported the prices of commodities and commodity shares.

By mid-morning on Wednesday the Resources index on the JSE was already 1.38% higher, with shares like Anglo American [JSE:AGL] and Glencore [JSE:GLN] reaching new highs.

Improved sentiment in the resources sector followed after the prices of iron ore, copper and gold all improved and oil prices lifted, partly due to dollar weakness.

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Rand - Dollar
13.99
+0.3%
Rand - Pound
19.79
+0.2%
Rand - Euro
17.02
+0.1%
Rand - Aus dollar
10.96
+0.3%
Rand - Yen
0.13
+0.2%
Gold
1,836.18
+0.0%
Silver
27.33
+0.1%
Palladium
2,957.00
-0.2%
Platinum
1,233.00
-1.4%
Brent Crude
68.32
+0.1%
Top 40
61,275
-1.8%
All Share
67,223
-1.7%
Resource 10
70,644
-2.0%
Industrial 25
84,062
-1.9%
Financial 15
12,653
-0.7%
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