JSE edges higher in low-volume trade, weighed down by disappointing corporate results
The improved mood among global investors was offset by disappointing numbers from Vodacom, while Lonmin shares jumped after its results
The JSE began the week by closing slightly lower on Monday, despite expectations equities would be back in favour due to easing geopolitical tension. Astral Foods led the losses by points after a results statement was met unfavourably by the market, although volumes on the local bourse were muted. The JSE saw turnover of R9.9bn compared to the daily average of R20bn. The platinum index firmed the most, buoyed by a positive earnings report from beleaguered Lonmin. Banks were lower as the rand oscillated, but risk-on sentiment was present on global markets, with a strong performance by Asian bourses earlier in the day. This followed signs from the White House that the current trade spat with China may end amicably. Major European equity markets were lower, however, with some analysts pointing to uncertainty as Italian political parties continue coalition negotiations. Sentiment has been given a further boost by recent US and European data releases that have eased fears of faster-than-...
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