JSE could open higher on Monday
On Friday, Chinese export data boosted sentiment, as did strong earnings from US banks JP Morgan and Wells Fargo
The JSE looks set to open higher on Monday as strong export data from China and healthy earnings from US banks boosted Asian stocks in early trade. On Friday, China published better-than-expected export data, while strong earnings from JP Morgan and Wells Fargo pointed to a robust US economy. That helped boost the S&P 500 index, which gained 0.7% on Friday. Weekend media reports said the US and China were closer to reaching a trade agreement. Asian equities got off to a strong start on Monday. The Shanghai Composite index was 1.1% higher before noon, while Japan’s Nikkei 225 rose 1.5% and Hong Kong’s Hang Seng index 0.5%. However, Naspers’s main asset, Tencent, was 0.1% down in Hong Kong, and JSE-heavyweight BHP Group was 0.3% lower in Australia. Meanwhile, MTN could get a boost from its African e-commerce associate, Jumia, which rallied 75% on its first trading day in New York on Friday. That means MTN’s 31% stake in Jumia is worth about R8.5bn. No major JSE-listed company results ...
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