Number of the Day | 5% | 05 November 2026
The Johannesburg Stock Exchange surged by 5% before easing to a 4% gain, as investors reacted to the US midterm elections. But why should an American political contest send South African shares soaring? In this edition of Number of the Day, Gareth Edwards and Francis Herd unpack the market reaction, from falling oil prices and a weaker US dollar to rising gold and platinum prices that boosted confidence in local mining stocks.
Beyond the rally, they examine what changing political power in Washington could mean for Donald Trump’s economic agenda, US tariffs, South Africa’s AGOA trade prospects and diplomatic relations between the two countries. As investors anticipate a different policy environment, the conversation raises an important question: are markets responding to genuine economic improvements or simply betting on what might happen next? Discover how international political developments can influence South Africa’s financial markets and why a single day’s gains never tell the whole economic story.
Catch up on all Number of the Day episodes here: https://www.enca.com/number-day-podca…
Chapter List
(00:00) – JSE Surges 5%: Why Are SA Markets Rising?
(01:27) – Why Trump’s Midterm Setback Matters To Investors
(02:41) – Could US Elections Change AGOA And Trade Tariffs?
(04:03) – What Could The US Results Mean For SA Diplomacy?
(05:27) – South Africa’s Elections And The JSE Reaction
