JSE firmer led by retailers, as markets eye US-China talks
Optimism about a trade deal between the US and China is offering support to local banks and miners
The JSE pushed higher on Tuesday morning, with broad-based gains as US and Chinese officials continued trade talks.
Commentary from both sides that a deal may be in the offing has provided a fillip for global equities this week.
US Federal Reserve chair Jerome Powell's comments that the bank may opt to hold back on interest-rate increases despite strong US economic data has also provided some buoyancy in risk assets.
Powell's comment on Friday last week have prompted some dollar weakness, which usually supports commodities, as it makes them cheaper to those buying in other currencies.
Focus this week will be on the US-China trade talks. Market liquidity remains thin, as most participants have not yet returned to work after the December break, Nedbank Corporate and Investment Banking analysts said.
At 10am the JSE was up 0.45% at 52,194.7 points and the top 40 was 0.62% higher. Industrials had added 0.52% and the resources index 0.34%. Gold miners had lost 2.91% and platinums 1.06%.
At the same time gold was 0.44% lower at $1,283.07 an ounce and platinum 0.39% down at $820.30. Brent crude was 0.28% weaker at $57.48 a barrel.
Diversified miner BHP had added 0.82% to R299.45.
Rand hedge British America Tobacco had gained 1.41% to R445.21, Richemont 1.43% to R91.24 and AB InBev 1.28% to R965.66.
AngloGold Ashanti was down 3.44% to R174.77 and Harmony 3.14% to R26.21.