FX.co ★ South African Stocks at Record Highs

The JSE index experienced a 0.5% increase, reaching approximately 93,900 on Monday. This marked the second day of maintaining its upward trajectory, reaching record highs. Leading the charge were the chemicals sector, up by 4.7%, and industrial materials, with a 2.7% rise. Investors showed increased confidence following a meeting between President Cyril Ramaphosa and US President Donald Trump, resulting in an agreement to initiate negotiations on critical minerals—an essential component of South Africa’s economic growth strategy. Furthermore, the parliamentary endorsement of Finance Minister Enoch Godongwana’s budget reduced political uncertainties and bolstered the market's confidence in the country’s fiscal outlook.