South African JSE All Share Index Rises

Reuters – On Tuesday, the JSE All Share index rose above 74,500, in step with other global markets. This increase came as traders evaluated the possibility of the Federal Reserve reducing its rates, despite senior officials suggesting that immediate rate cuts might not happen. Investors are now looking forward to upcoming U.S. economic data, including personal spending figures and the final third-quarter GDP numbers, to gain insight into the Federal Reserve’s future actions.

In the business world, sectors related to resources, technology, and industrial areas saw growth, but the financial sector experienced a slight dip. In other news, the prominent South African company, Sun International, led the index. This followed their announcement about planning to buy Peermont Holdings for 7.3 billion South African Rand.

JSE All Share Index – Daily Chart