JSE firms as global risk appetite picks up
The JSE made broad-based gains on Friday, with most global markets in positive territory, as fears about disruptive global trade conflict ebbed.
The announcement that the US and China would hold new trade talks boosted global markets, with the rand having found support on Thursday from tepid US inflation data and rising interest rates in Turkey.
A weaker dollar offered support to miners, as well as banks and retailers.
The all share firmed 0.74% to 56,581.9 points and the top 40 rose 0.9%. Resources gained 1.84% and financials 0.69%.
Property stocks fell 0.81% and the platinum index lost 0.37%. The all share fell 0.85% in the week.
Naspers firmed 0.94% to R3,184.62.
Diversified miner Glencore rose 1.9% to R58.90, Anglo American 2.46% to R298.51 and BHP 1.66% to R298.59.
Rand hedge Anheuser-Busch InBev gained 0.84% to R1,326.85 and Richemont 1.68% to R125.88, while British American Tobacco fell 0.28% to R715.45.
Aspen Pharmacare slumped 17.77% to R190.83, extending its nearly 15% drop on Thursday, when it announced the sale of its infant-formula business to a French dairy company.
Shortly after the JSE closed the Dow was up 0.12% to 26,173.68 points, while in Europe, the FTSE 100 had gained 0.3%, the CAC 40 0.55% and the DAX 30 0.54%.
At the same time, gold had fallen 0.41% to $1,196.48 an ounce and platinum 0.25% to $802.20. Brent crude was 0.57% lower at R77.88 a barrel.