JSE climbs 1% amid upbeat global mood
Positive data from China is lifting the local bourse, while banks are leading the gains after the reprieve from Moody's
The JSE pushed higher on Monday morning, helped by a positive global and local developments. The rand has rallied a little after Moody's Investors Service opted not to review SA's credit rating, with commentary now expected only after the May 8 national polls. This has proved beneficial for banks, which had gained more than 2% on Monday morning. Global sentiment was also risk on, lifted by a positive purchasing managers' index reading. This helped bolster the oil price, to the benefit of local diversified miners. At 10am the all share was up 1.13% to 57,102.05 points and the top 40 1.24%. Banks were up 1.8% and industrials 1.03%. Platinums had fallen 1.03% and gold miners 1.65%. At the same time gold was down 0.21% at $1,289.63/oz and platinum 0.25% to $849.11. Brent crude was 1.26% higher at $68.44 a barrel. Diversified miner Glencore was up 1.43% to R60.85 and BHP 1.87% to R353.93. Standard Bank was up 2.3% to R189.49, Absa 2.33% to R155.65 and Nedbank 2.31% to R257.05. Vodacom ha...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.