The JSE opened firmer on Monday on stronger Asian markets following a higher close on the Dow on Friday, after US data reflected a strong US economy. A slightly firmer rand supported banks, while industrials gathered some momentum on Naspers. The Dow closed 1.77% higher on Friday in risk-on trade, and the Nikkei 225 gained 1.65%. The Hang Seng rose 1.87%. US nonfarm payrolls showed 313,000 jobs were created in February, from 239,000 in January, well ahead of even the most optimistic forecast. Subdued wage growth indicated the US Federal Reserve would not be in a hurry to adopt a more hawkish stance in the absence of inflationary pressures in the economy. With core inflation below the Fed’s 2% target, analysts at Nedbank Corporate and Investment Banking (CIB) expect only a moderate pace of monetary tightening over the medium term. "Three hikes this year remain the expectation but may be revised if greater inflationary pressures are seen," Nedbank said. At 9.30am the all share was up ...
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