JSE recovers a little after global stock selloff
Market attention is on Brexit developments, while the Reserve Bank interest-rate decision will be in the spotlight on Thursday
The JSE pushed higher on Wednesday morning, recovering some of Tuesday's 2.5% loss, once again largely due to the performance of market heavyweight Naspers. Naspers had fallen more than 7% on Tuesday as investors fled tech stocks, which have been battered by concern about the global economic outlook. This helped precipitate a broad-based sell off on Tuesday, ensuring the Dow turned negative for 2018. On Wednesday morning, Naspers was up 3.66% to R2,713.11, tracking gains in Hong Kong-listed associate Tencent. Local issues were back in focus on Wednesday, with inflation for October coming out largely as expected. The data comes ahead of the SA Reserve Bank's interest-rate decision on Thursday. Some good news on Wednesday came in the form of a stable rand and low oil price, which was sharply up but still below $64 a barrel. At 9.30am the all share was up 0.52% to 51,333.1 points and the top 40 0.74%. General retailers had added 1.42%, industrials 1.32% and platinums 0.95%. Sasol was d...
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