The JSE followed global equity markets higher on Friday morning, with the local bourse buoyed by Naspers and industrial stocks. Thanks to its 31% stake in China’s Tencent, JSE-heavyweight Naspers was 1.8% higher at R3,363.75, its best level in about seven months. The all-share index was up 0.5% to 56,328.4 points and the top 40 was 0.6% higher. Industrials were up 0.8%, while gold miners shed 1.2%. Kumba Iron ore was 3.8% up at R427.50, while Sappi was 2.2% higher at R66.63. Vivo Energy was 4.6% down at R23 and Netcare was 4.5% lower at R22.70. Gold was 0.1% down at $1,289.19/oz while platinum was up 0.7% to $845. Brent crude was 0.1% higher at $68.03 a barrel. After the Reserve Bank’s monetary policy committee kept rates unchanged on Thursday, focus has shifted to SA’s trade balance data due Friday. More importantly, the country awaits a possible ratings decision from Moody’s. Most analysts expect SA’s rating outlook to be changed from stable to negative, paving the way for a possi...
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