JSE edges higher as traders consider failed Brexit divorce terms
Focus remains on Brexit as Theresa May faces down a no-confidence motion, with local gold miners remaining under pressure
The JSE edged higher on Wednesday morning, although gains were marginal, as investors continued to grapple with the fall-out from UK Prime Minister Theresa May's historic Brexit defeat. British MPs have overwhelmingly rejected May's draft deal, giving her until Monday to come up with an alternative. May also faces a no-confidence vote after local markets close on Wednesday, but she is expected to survive this. A firmer rand was bolstering local banks and financial stocks on Wednesday morning, but precious-metals miners remained under pressure. Most local mining stocks were under strain on Tuesday after disappointing local production data for November. They have also been buffeted by a stronger rand in January, amid improved sentiment towards emerging-market assets, with analysts citing the dovish stance adopted by the US Federal Reserve. At 10am the all share was up 0.21% at 53,647.2 points and the top 40 0.32%. Banks were up 0.38% and industrials 0.2%. Gold miners had lost 1.25% an...
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