Two numbers defined trading in Johannesburg on Thursday, April 2, 2026: Brent crude up 6.8% to $108.02 a barrel, and the JSE Top 40 down 0.44% to 108,331.47. That divergence explains most of the session. The oil shock tied to Middle East tensions lifted parts of the resources complex, but it also sharpened concerns around input costs, downstream margins and imported inflation in South Africa.
The JSE All Share closed 0.41% lower at 116,122.75, even though market breadth was not especially weak, with 28 gainers against 25 losers across 53 stocks tracked. In other words, this was less a broad selloff than a weighting story. On the Johannesburg stock exchange today, a handful of heavyweights offset a strong run in miners.
Key figures
- Brent crude: $108.02/bbl, up 6.8% on the day
- JSE All Share: -0.41% at 116,122.75
- JSE Top 40: -0.44% at 108,331.47
- USD/ZAR: 16.9083, up 0.26%
- Sasol: -2.8% at 208.08 ZAR