JSE edges towards 57,000 points due to miners
A rising oil price continues to support diversified miners, although global activity is muted as investors wait for fresh catalysts
Rising commodity prices provided support for the JSE on Tuesday morning, despite a lack of appetite for risk assets as uncertainty around Brexit escalated. A third vote on UK Prime Minister Theresa May's Brexit agreement is not expected to take place this week, leaving May with the task of requesting more time from the EU later in the week. Uncertainty over Brexit, along with the forthcoming US Federal Reserve monetary policy announcement on Wednesday, were providing sufficient reasons for traders to be cautious. Local banks were under some pressure on Tuesday, while many other indices were flat. At 10am the all share was up 0.33% to 56,957.5 points and the top 40 0.3%. The resources index was up 1.03% and platinums 0.8%. Banks were down 0.32%. The local bourse last closed above 57,000 points in September 2018. Gold and platinum were flat at $1,304.41/oz and $834.06/oz, respectively. Brent crude was 0.31% up at $67.66 a barrel. Diversified miners were extending Monday's gains, boost...
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