The JSE firmed on Friday morning, looking set to add about 7% for the week, once again driven by a strong performance from Naspers. The media giant added 4.16% to R2,931.70, once again tracking gains in its Hong Kong-listed associate, Tencent. Chinese stocks in general were stronger, boosted by comments by US President Donald Trump that he was confident a trade deal could be brokered. Naspers has been boosted this week by, among other things, positive earnings reports by US tech companies, and a decision by global index agency MSCI not to penalise it for its dual-share structure. Naspers has gained 15.71% so far this week. At 9.40am the all share was up 1.7% to 54,490.4 points and the top 40 1.91%. Industrials had gained 2.18% and banks 1.69%. Focus on Friday is on US jobs numbers in the afternoon, with the market expecting that US private-sector employers added 190,000 employees in October. The data release will be closely scrutinised for signs of rising wages, which would give ind...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now