MARKET WRAP: JSE recovers from negative start to week as miners shine
The JSE recovered on Tuesday as global markets rallied following an easing in global trade tension.Disappointing local manufacturing data failed to dent market sentiment. Total output in the sector rose by a seasonally adjusted 0.3% month-on-month in June, containing the annual increase at a modest 0.7%, down from 2% in May, and weaker than Bloomberg’s consensus forecast of 2.2%.A strong performance from Naspers, together with firmer mining stocks, lifted the all share following a disappointing start to the week.Robust second-quarter earnings growth in the US has pushed the S&P 500 to its highest level since January despite escalating tariff threats from the US and China, Dow Jones Newswires reported.UK and European markets rallied on Tuesday, carrying the baton over from Monday’s better showing by US markets."Earnings season is shaping up very well indeed, which accounts for why US equities remain comfortably ahead of the likes of Europe, but a rising tide lifts all boats and will ...
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