The JSE was up 1% in broad-based gains on Friday morning, with most global markets in the green, as fears over disruptive global trade conflict ebbed.The announcement that the US and China would hold new trade talks on Wednesday has boosted global markets, with the rand gaining sharply on Thursday after Turkey’s central bank raised interest rate 6.5 percentage points.The rand had held onto its gains on Friday morning, boosting retailers and banks. A softer dollar also helped support miners, who generally benefit from the increased demand for dollar-denominated commodities.Naspers was up 2% to R3,224.94 in morning trade, now turning positive for the week. Naspers’s share price has recently fallen in sympathy with that of Hong Kong-listed associate Tencent, whose core gaming business is under regulatory scrutiny in China.At 9.46am the all share was up 1.07% to 56,768.4 points and the top rose 40 1.19%. Industrials were up 1.02% and resources 1.32%.Diversified miner Glencore had gained...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.