JSE pushes higher as global equity rally continues
US stocks are on track for their longest winning streak in four months, boosted by confirmation of high-level US-China trade talks
The JSE pushed higher in broad-based gains on Friday morning, with banks and retailers faring best, as risk-on trade continued to fuel an interest in equities. Dovish comments from US Federal Reserve chair Jerome Powell overnight, as well as news of high-level talks between the US and China later in January, bolstered sentiment. Analysts have noted that the performance of equities this week, even considering some bearish news, pointed to a return of some normality to markets, which had been rattled by geopolitical events throughout 2018. Although sentiment has improved, investors would be looking for concrete US-China trade developments, and a rally could stall quickly in the absence of this, said London Capital Group analyst Jasper Lawler. At 10am the all share was up 0.79% at 53,694.1 points and the top 40 0.89%. Banks were up 1.16% and general retailers 0.74%. At the same time gold was up 0.56% at $1,293.54 an ounce and platinum 0.38% at $824.27 an ounce. Brent crude was 0.93% hi...
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