Futures track firmer JSE and record Dow
South African futures closed higher on Friday, beating the gains made by the local bourse, as US equity markets pushed further into record territory.
There were few risk events moving into the weekend, with fears of further moves over Catalan’s push for independence from Spain seeming to do little to move markets, analysts said.
Oil prices continued to rise as investors await a speech by US President Trump on Iran. There is widespread expectation that Trump will pull US support for a recent nuclear deal, and adopt a more combative stance.
There are no major data releases or company results on Monday, but Wednesday sees the release of the consumer inflation for September, which was forecast at 4.9% year on year compared with 4.8% in August, mainly due to pressure stemming from the fuel-price component, said Investec economist Kamilla Kaplan. The effect of this on headline inflation should be partially countered by the continued moderation in the food component.
The all share added 0.22% to 57‚878.6 points‚ while the top 40 gained 0.19%. The former has added 1.13% this week.
The property index added 1%‚ platinums 0.9%‚ resources 0.67% and financials 0.47%. Gold miners lost 0.45% and food and drug retailers 0.11%.
The top-40 Alsi futures index added 0.44%, at 52,280 points, up 0.97% for the week. The number of contracts traded was 19,065 from Thursday’s 22,757.
At 5.30pm, gold and platinum had both added 0.53%, at $942.72 and $1,300.1 dollars an ounce, respectively.
Brent crude was up 1.12% to $57.04.
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