09.09.202508:40:35UTC+00South African Stocks Rally to Record High

The JSE index climbed by 0.7%, breaking past the 103,500 mark to achieve a new record high, continuing its upward trend for the third consecutive session. This momentum was driven primarily by the industrial metals and mining sectors. Notably, Anglo American saw an impressive increase of over 8% following its announcement of a $20 billion acquisition deal with Canadian mining company Teck Resources. Other notable performers included Glencore and Kumba Iron Ore, which rose by 3.7% and 2.4%, respectively. Additionally, gold mining companies such as Harmony Gold and AngloGold Ashanti experienced nearly 2% growth as gold prices reached unprecedented highs. In a separate development, shares of SPAR Group soared by 5.6% after the company divested its entire stake in its Swiss division for approximately ZAR 1 billion. This sale is part of a comprehensive restructuring strategy that has seen the company withdraw from several European markets.