<\/p>\n
The JSE\u2019s benchmark All Share Index (Alsi) jumped over 5% by 11am on Wednesday and the rand firmed over 2.3%, following overnight news of the ceasefire in the Iran war announced by US President Donald Trump.<\/p>\n
Most international stock markets rebounded strongly, while the oil price plunged to around $95 a barrel with Trump and Iran saying the Strait of Hormuz will also reopen.<\/p>\n
Just after midday, the JSE traded 5.8% stronger and back above the psychological 120 000-points mark for the first time since early March, after the Middle East conflict broke out. It was trading around the 121 632 level at 12.30.<\/p>\n
The rand traded around R16.44 against the US dollar.<\/p>\n
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Gold, platinum and silver also firmed on the news. On the JSE, the Resources Index spiked over 8%, while the Top 40 and Property indices jumped 6% and over 5%, respectively.<\/p>\n
Read:
US and Iran agree to ceasefire hours before Trump deadline
Shipowners eye Hormuz truce with 800 vessels still trapped<\/p>\n
Impala Platinum, Valterra Platinum, Sibanye Stillwater, Northam Platinum, Gold Fields and AngloGold Ashanti led the jump in share prices, up between 8% and 13%. Other big gainers included Pepkor, TFG, Anglo American Plc, Redefine Properties and Growthpoint Properties.<\/p>\n
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With the plunge in the oil price, Sasol also plunged around 14%.<\/p>\n
Coal miner Thungela Resources\u00a0and cement producer Sephaku Holdings were amongst the biggest losers, also falling around 14%.<\/p>\n
Listen\/read:
Investing through the Iran conflict market volatility
Wait for peace: Then buy the rebound
Selling Sasol, buying gold and PGM miners<\/p>\n
#JSE #jumps #rand #TrumpIran #ceasefire<\/p>\n","protected":false},"excerpt":{"rendered":"
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