JSE likely to maintain upbeat mood on Wednesday
Netflix’s buoyant results lifted the Nasdaq composite index and Asian markets took their cue from the US rally
Netflix cheered markets on Wednesday morning, rising 11% to $384.10 in Nasdaq’s after-hours trading after closing 4% higher on Tuesday. The online movie service reporting it added 7-million subscribers in the September quarter helped the Nasdaq composite index rise 2.89%; Asian markets took their cue from the US rally. Tokyo’s Topix index was up 1.43%, Singapore’s Straits Times index added 1.71% and Sydney’s ASX 200 index rose 1.16%. BHP, however, was down 1.06% to A$33.54 and Tencent was down 0.5% to HK$281.40. Following Pick n Pay’s results on Tuesday, the JSE’s focus remains on the retail sector on Wednesday, with interim results from pharmacy chain Dis-Chem and August’s retail figures from StatsSA at 1pm. Dis-Chem has not issued a trading statement, as would be required if its earnings differed by more than 20% from the comparative period, but it did issue a sales update for the first four months of its financial year in July. “The continuing increase in the fuel price along wit...
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.