JSE higher as UK and EU inch towards Brexit resolution
Local stocks are finding support from a firmer rand, while markets are still looking for an end to Brexit negotiations and the US-China trade conflict
The JSE pushed higher on Monday morning, led by banks and Naspers, but ahead of possible volatility later in the week. Markets are returning from slightly subdued conditions at the end of last week, when US markets were closed for the Thanksgiving Day holiday. Contention over Brexit could be on the cards this week, after UK and EU officials penned a draft deal that must now find acceptance from British legislators. The Group of 20 (G20) summit in Argentina, however, poses the most risks, with US President Donald Trump and Chinese Premier Xi Jinping expected to meet to try and resolve trade differences. The rand was firmer on Monday morning, helping to provide support for banks and retailers. At 9.30am the all share was up 0.56% to 50,982.9 points and the top 40 up 0.75%. Banks were up 1.04% and financials 0.79%. Gold miners were 0.47% lower. At the same time, Brent oil was 1.64% higher at $60.11 a barrel. Markets are eyeing a meeting of oil cartel Opec next week, but motorists are s...
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