The JSE was flat in thin volumes on Tuesday morning, bolstered slightly by global equity markets, albeit in a cautious environment. Most local equities were little moved in the morning session, although losses by market heavyweight Naspers and Capitec weighed on the all share index. Global trade was mildly risk-on, after German Chancellor Angela Merkel struck a deal with rebellious members of her government’s coalition on Tuesday evening. This helped sooth investor concern regarding political stability in Europe’s largest economy. The rand was slightly firmer on Wednesday morning as a result, although the closure of US markets on Wednesday and upcoming risk events this week could subdue activity. Naspers was slightly lower, with the Hong Kong Hang Seng facing selling pressure after being closed on Monday, when global markets were lower. Investors are watching US data due out on Thursday and Friday, while the major risk event remains the Friday deadline for the US’s imposition of add...
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