Rand hedges and Capitec keep JSE higher
All share gains despite upcoming risk events, with rand weakness benefiting some miners and rand hedges, while Capitec gains after its results
The JSE edged higher on Thursday morning, despite voluminous levels risk on global markets, mostly due to Capitec and rand hedges. Capitec was up 1.8% to R1,313.44, having earlier reported that headline earnings per share rose 19% in the year to end-February, toward the upper end of the expected 17%-20% rise expected by the market. The all share was up 0.21% to 56,266.4 points and the top 40 0.33%. Gold miners had lost 2.14%, while industrials were up 0.21%. Gold was flat at $1,309.19/oz while platinum was up 1.16% to $859.76. Brent crude was 0.52% lower at $67.74 a barrel. Local focus is squarely on the Reserve Bank's monetary policy announcement later. Globally, uncertainty persists over Brexit, while US-China trade talks resume on Thursday. Volatility in the Turkish lira is also being watched, as this could spillover into the rand. Turkey's central bank has seemingly intervened to protect its currency ahead of local government elections at the weekend, analysts said. Diversified ...
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