MARKET WRAP: JSE climbs 1% led by Naspers
Meanwhile, the oil price remains elevated by promises of extended production cuts by Saudi Arabia, the world's largest exporter
The JSE pushed higher on Monday, with banks reversing earlier weakness to close higher. Market heavyweight Naspers gained 2.79% to R3,233.79, tracking a similar rise in Hong Kong-listed Tencent, which releases its annual results on Thursday. Tencent’s share price has been recovering of late, with Vestact analysts noting that this had followed the company’s implementation of its own gaming restrictions, such as age limits, amid a crackdown by Chinese regulators. The US Federal Reserve will begin its meeting on interest rates on Tuesday, and will hold a news conference on Wednesday. Dovish Fed policy has been cited by analysts recently a reason for the dollar’s weakness, which has benefited miners. Investors are also closely watching Brexit developments. British MPs may vote on Tuesday for a third time on UK Prime Minister Theresa May’s withdrawal agreement, although May has indicated she may opt to withdraw it if there is clearly insufficient support. The all share gained 1.3% to 56,...
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