JSE joins Asian market recovery, even as Brexit vote looms
Resilience on global markets has raised hopes that the performance of equities this month is more than just a correction
The JSE was firmer on Tuesday morning, erasing Monday’s losses, amid some hopes that global markets are ticking higher after a torrid December. Activity on US markets recently, as well as emerging-market resilience, has indicated the performance of risk assets in January may be more than just a correction from last month, analysts said. Sentiment has in recent weeks been boosted by positive US-China trade-war developments, as well as a dovish tone emanating from the US Federal Reserve. Fresh promises from Chinese officials promising additional economic stimulus this year was also supporting sentiment, analysts said. Gains on the local bourse on Tuesday were broad-based, with Naspers providing the most direction, adding 1.17% to R2,994.13. Gold miners were under pressure after rand gains overnight. At 9.45am the all share was up 0.33% at 53,661.4 points and the top 40 0.49%. Industrials rose 0.57% and general retailers 0.77%. Gold miners gave up 2.39%. Gold was flat at $1,290.61 an o...
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