The JSE was a little patchy in quiet trade on Friday, but still appeared on course to finish the week positively. Mining stocks were relatively well-supported on the day, coinciding with upbeat data from China, the top commodity consumer. Chinese imports rose by an annual rate of 18.7% in September, comfortably beating expectations of 13.5% and suggesting strong underlying demand from the world’s second-largest economy. Kumba Iron Ore and Exxaro Resources were among the top gainers in the resources sector, though their influence on the broader market is inconsequential. The all share was flat at 57,743.60 points at lunchtime, suggesting some participants were taking a breather after pushing the benchmark gauge to a series of record highs over the past few days. Banks and insurance stocks were mixed despite a stronger rand, which hovered at a three-week high to the dollar of R13.37. Banks, in particular, had a terrific run during the week, with the index gaining almost 4%. Big indust...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.