South African futures tracked the JSE higher on Friday, while global equities were mixed as an oil supply glut continues to pressure many energy stocks. Results from Naspers, Africa’s largest company by market capitalisation, bolstered the all share, which registered broad-based gains to close 0.84% higher at 51‚503.50 points. The media group reported its after-tax profit jumped 181% to $2.8bn, while overall revenue grew 3% to $6.1bn. Volumes on the market were low at R11.5bn at the close from an average trading day’s R20bn. The blue-chip top 40 rose 0.92%, banks 1.25%‚ financials 1.06%‚ platinums 1.03%‚ industrials 0.99%‚ property 0.7% and general retailers 0.64%. Global equities have hovered at record levels due to a rebound in tech shares, but Brent crude remains about 20% lower this year with some signs oil cartel Opec’s cuts are not reducing the glut in the market. Equities in Europe were down, with energy shares extending losses. In early morning trade US stocks lacked directi...
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