JSE pushes higher led by diversified miners
A firmer oil price is supporting diversified miners, while Naspers tracks a higher Tencent ahead of the Chinese firm's results later this week
The JSE edged higher on Monday morning, led by Naspers, although banks and financial stocks under some pressure. The rand was stable, and is expected to remain range-bound until later in the week. The major event is the US Federal Reserve monetary policy announcement on Wednesday, although yet another vote on UK Prime Minister Theresa May's draft agreement is due on Tuesday. At 10.05am the JSE was up 069% to 56,426.2 points and the top 40 rose 0.67%. Resources had added 1.35% and industrials 0.71%. Gold was up 0.22% to $1,303.81/oz and platinum 0.33% to $832.48. Brent crude was 0.24% higher at $67.18 a barrel. Oil has found support recently by promises by Saudi Arabia of extended production cuts, while electricity problems in Venezuela is reducing production in that country. Diversified miner BHP was up 1.62% to R334.11 and Anglo American 1.47% to R374.42. Sasol had added 1.14% to R429. Hulamin slumped 8.55% to R4.28. It reported that revenue rose 8.5% in the year to end-December, a...
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