JSE opens higher on thin volumes as food and drug retailers take the lead
The JSE was firmer on Monday morning, with food and drug retailers and industrials leading at the opening on mixed Asian markets.The rand recovered some lost ground at R14.3438 to the dollar from R14.3602.Nedbank Corporate and Investment Banking (CIB) analysts said news reports of a free tertiary education plan, and the ongoing talk of nuclear energy programmes, were unlikely to prove to be supportive of the rand.Initial volumes on the JSE were low, with the market focusing on the telecoms sector as Vodacom released interim results, following on the heels of Telkom last week.The market also mulled interim results from retailer Lewis and sugar producer Tongaat Hulett.Naspers was nearly 1% higher amid brisk trade in Hong Kong in Chinese internet company Tencent, of which Naspers owns about a third.The Nikkei 225 was 1.32% lower and the Hang Seng gained 0.4% following a weaker close on the Dow on Friday. The Dow lost 0.17% to 23,422.21 points. The S&P 500 saw its first weekly decline s...
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