Market Commentary
US indices hit fresh record highs on Friday after Iran reopened the Strait of Hormuz to non-Iranian commercial shipping, alleviating fears of energy-led stagflation. The S&P 500 rose 1.20% to its first close above 7 100, while the Nasdaq Composite gained 1.52% to 24 468.48, marking its 13th straight win and longest streak since 1992; and the Dow climbed 1.90% – all posting new intraday and closing records.
European stocks surged mirroring global gains after Iran allowed all commercial vessels through the Strait of Hormuz. The STOXX 50 climbed 2% to 6 054 and STOXX 600 1.50% to 626 – both at their highest since late February 2026 peaks – easing inflation fears with falling oil and gas prices, prospects of normalised regional energy supply and tailwinds for banks like Santander and BNP Paribas up over 4%, plus industrials such as Safran, Airbus and Schneider with gains of 4–6%.
In Asia, markets mostly closed lower despite these encouraging Middle East signals, as investor caution lingered amid the US indices’ record highs: Japan’s Nikkei was down 1.75%, Shanghai Composite dropped 0.11% and Hang Seng fell nearly 1%.
South African equities bucked the trend, with the Johannesburg All Share Index up 2.13%, Top 40 rising 2.38% and Resources increasing almost 4%; metals and mining surged over 5%, while the rand strengthened 0.57% against the dollar.
Thanks to PSG for the Market Commentary.
Financial Indicators by Sharedata.co.za
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