The JSE is likely to follow Asian markets higher on Thursday, taking its cue from Wall Street where the S&P 500 closed nearly 1% higher on Wednesday. The exchange-traded funds (ETFs) that track the S&P 500 on the JSE have enjoyed an eight trading day winning streak thanks to the US stock market rally and a weaker rand. The CoreShares S&P 500 tracker has risen 4% from R34.07 on May 25 to close at R35.37 on Wednesday. In Hong Kong, Tencent was 0.47% higher at HK$427, indicating its 31%-owner Naspers is likely to enjoy its sixth trading day of gains on Thursday. Naspers has rebounded 12% from R3,020.44 on May 30 to close at R3,385.56 on Wednesday. Thursday is a quiet day on the JSE results front, but PPC may release its results for the year to end-March. It has not issued a trading statement as would be required if earnings differed by more than 20%. In an operating update for the nine months to end-December issued in February, PPC said: “We have maintained our market leading position ...
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