South Africa’s main equities index rallied beyond the 60,000 points level for the first time since August 2018, benefiting from positive sentiment toward riskier assets as investors mulled speculation Washington lawmakers are edging closer to a U.S. stimulus deal.
The benchmark FTSE/JSE Africa All Share Index gained 1.5% to 60,353 at 10 a.m. in Johannesburg, with miners, banks and retailers prominent among gainers. South African markets were shut Wednesday for a public holiday.
An index of mining stocks was 2% higher, with diversified giants BHP Group Plc, up 2%, and Anglo American Plc, rising 2.5%, leading the gains.
Bank stocks climbed 1.7%, with FirstRand Ltd. advancing 2.5%, Absa Group Ltd. rising 3.9% and Standard Bank Group Ltd. up 1.8% as the rand strengthened for a fourth day to a 10-month high against the dollar.
