JSE pushes higher as global mood improves
Concern over global growth that prompted sharp selling on Monday continued to abate on Wednesday, with local banks leading the gains
Improved global investor sentiment helped the JSE push higher in broad-based gains on Wednesday morning, but an air of caution remains.
Global equities had registered sharp losses on Friday and Monday, but were pushing higher on Wednesday, amid a litany of threats.
At 10.02am the all share was up 0.5% to 55,919.3 points and the top 40 0.52%. Banks were up 1.01% and platinums 0.91%.
Gold was flat was at $1,314.37/oz while platinum was up 0.22% to $861.98. Brent crude rose 0.16% to $68.14.
Uncertainty over Brexit continues, with the UK parliament expected to conduct a series of votes later on Wednesday as it attempts to chart a way forward. US-China trade negotiations resume on Thursday, when the Reserve Bank announce its latest stance on monetary policy.
The main local event, however, remains the Moody's Investors Service credit rating announcement on Friday.
Diversified miner Anglo American was up 1.18% to R382.59.
Sasol had firmed 1.11% to R449.46.
FirstRand had added 1.25% to R61.61 and Standard Bank 1.38% to R181.26.
Woolworths was up 1.1% to R44.31.
MTN fell 3.02% to R87.77. On Tuesday, reports suggested Nigerian authorities had MTN in their sights over alleged tax evasion.
Rhodes Food Group fell 4.19% to R16, despite saying earlier that group revenue for the five months to end-February rose 8%.
Nampak gained 3.56% to R12.23.