The JSE rose on Monday, joining a broad recovery in world markets, as concern about the tension between North Korea and the US eased. The all share was up 0.69% to 55,534.80 points at lunchtime, on track to end a three-day losing run. Naspers led the broad-based recovery, which was partially offset by gold and platinum stocks, which responded to weaker underlying metal prices. The price of gold, which is perceived as a safe-haven asset, ended a four-day winning run, as money piled back into risk assets, notably equities. “I don’t think this signifies a belief that relations between the two countries will suddenly improve,” Oanda senior market analyst Craig Erlam said in a note. “The problem is that both sides can be rather unpredictable so things could escalate at any point and trigger another dash for safety.” The improving sentiment played out favourably for the rand, which in turn supported banks and retailers. The local currency strengthened towards R13.20 to the dollar, marking...
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