South African Index Crosses Psychological Level of 100,000

South Africa’s benchmark stock index crossed the psychological level of 100,000 for the first time on optimism that a crucial budget vote will get support from key parties in the governing coalition.

The index has advanced about 19% this year, hitting multiple record highs and outperforming a gauge of emerging stocks. The gains have been paced by platinum-group metal miners including Sibanye Stillwater Ltd. and Northam Platinum Holdings Ltd. Gold has also been rallying, helping companies such as Gold Fields Ltd.