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Stocks reach fresh record highs

Stock indexes in South Africa and the US reached fresh all-time highs on Friday, as expectations increase of fiscal stimulus measures by US president-elect Joe Biden.
Stocks reach fresh record highs Stocks reach fresh record highs Stocks reach fresh record highs Stocks reach fresh record highs Stocks reach fresh record highs

The FTSE/JSE Africa All Shares Index hit a record high on Friday

Staff reporter

In New York, the S&P 500 closed up 0.55% to a new record of 3,824.68.

South Africa's FTSE/JSE Africa All Shares Index reached 63,829 intraday before closing up 0.76% to 63,519.

Mineral resources and energy minister Gwede Mantashe, who also chairs the African National Congress, said the ANC's national executive committee had declared the theme for 2021 to be unity, renewal and reconstruction in the year of Charlotte Maxeke. Maxeke, who died in 1939, was known as the "Mother of Black Freedom in South Africa".

Gold is lower than the US$1,877 an ounce on the spot market noted in Mining Journal's last market insight on December 22.

It was worth $1,850/oz at the time of writing.

Among the mining majors, precious metals producer Fresnillo fell 3.45% in London on Friday and gold major Newmont lost 3.6% in New York.

Copper major Freeport-McMoRan was off 0.06% to $31.15 but remains within 50c of a one-year high.

Most market futures are pointing to a positive start to the week.