MARKET WRAP: JSE surges 3% led by Sasol and Naspers
Global markets have cheered reduced tension between the US and China, while oil rebounded about 5% after its worst month in a decade
The JSE started off the last month of 2018 on a positive note, jumping more almost 3% in broad-based gains, as markets cheered easing US-China trade tension. Risk assets generally were boosted by news of a 90-day truce between the world's two-largest economies, with commodities also surging. The all share added 2.79% to 52,079.2 points and the top 40 rose 3.12%. Industrials added 2.62%, platinums 4.01% and resources 4.89%. Brent crude climbed 4.27% to $61.62 a barrel shortly after the JSE closed. The price of oil was lifted by both improved prospects for global trade, and ahead of a meeting of oil cartel Opec this week, which is widely expected to result in an agreement for hefty production cuts. At the same time gold was up 0.94% to $1,233.61 an ounce while platinum fell 0.12% to $804.51. Sasol was a major beneficiary of this, rising 6.82% to R434. Diversified miners were also lifted with BHP rising 5.64% to R278.51. Anglo American rose 5.32% to R291.72 and Glencore 3.3% to R52.87....
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