South African Stocks’ Record Monthly Run Moves Beyond Metals

South African equities are on track for their longest monthly winning streak on record as optimism mounts that the powerful commodities-driven rally is poised to broaden out to other sectors.

The benchmark gauge was up 8.1% in January through Thursday’s close, set for an eleventh monthly advance. Precious metals and mining stocks led gains, up 28%, followed by a gauge of industrial-metal producers. But other sectors are also rising as investors bet the commodities windfall will filter through to the wider economy. Chemicals, construction and travel and leisure stocks were among the biggest gainers.