The JSE closed firmer on Monday, despite a seeming lack of conviction in the market, with interest-rate sensitive stocks apparently cheering a fall in the oil price. Brent crude came off multiyear highs on Monday, as the market digested the measured military action undertaken by the US and its allies in Syria. Volumes on the local bourse were low, at R11bn, compared to the daily average of R20bn, with the market watching for both local and US consumer inflation data on Wednesday. Naspers firmed 1.5% to R3,040, despite an earlier drop in Hong Kong listed Tencent, in which it owns a sizeable share. Asian and European markets were lower, but US markets opened higher, amid earnings season. About 60 S&P 500 companies were due to report results this week, and so far, 70% of those that had done so managed to beat Wall Street’s expectations on earnings per share, said FXTM chief market strategist Hussein Sayed. "With such a positive earning season and with better valuations compared to a ye...
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