The JSE opened firmer on Monday at a record high as the firmer rand supported banks and financials while a surging oil price and upbeat Chinese data lifted miners. The all share surged above the 58,000 level for the first time in broad-based gains. The rand was steady at R13.2990 to the dollar, the best level in two months. Industrials shrugged off the stronger rand as Naspers hit renewed record levels on positive trade in Chinese internet company Tencent in Hong Kong. Naspers owns about a third of Tencent. Miners were supported by recent strong Chinese data with Chinese imports growing 18.7% in September, far higher than expectations. The Dow closed 0.13% higher at 22,871.72. Asian markets took their cue from US markets on Monday, with the Nikkei gaining 0.47% and the Hang Seng 0.63%. Brent crude was 1.42% higher at $57.97 a barrel. Speculation mounted over potential disruptions to output in a region that is home to Iraq’s oldest producing oilfields as Iraqi forces began a military...
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