JSE remains steady ahead of Naspers results
Naspers is expected to release its annual results later in the day. The company said last week that earnings in the year to end-March grew by up to a third
The JSE was little changed as global markets were mixed on Friday morning, shedding Thursday’s gains.
By 09.41 am, the Shanghai Composite had gained 0.5% and Japan’s Nikkei 225 0.6%, while Hong Kong’s Hang Seng was down 0.48% as the city’s residents returned to the streets in protest. In Europe, the FTSE 100 had gained 0.13%, France’s CAC 40 0.16%, while Germany’s DAX 30 was flat.
The JSE all share and the top 40 were flat with the all share at 59,024 points. Banks had fallen 1.38% and financials 0.67%, while gold miners were up 1.52%, after closing as high as 5.98% on Thursday.
Naspers had fallen 0.28% to R3,468.19 after its Hong-Kong listed subsidiary Tencent was earlier down 0.51%. Naspers is expected to release its annual results later in the day. The company said last week that earnings in the year to end-March grew by up to a third.
Among diversified miners, Glencore gained 1.34% to R51.50, BHP 1.26% to R360.44 and Anglo American 0.92% to R392.37.
Rand hedges found some relief as the rand’s rally was cut short, British American Tobacco had gained 1.82% to R518.44, AB InBev 0.78% to R1,292.26 and Richemont 0.45% to R119.83.
At 09.40, the rand had weakened 0.57% to R14.4243/$, 0.76% to R16.3163/€ and 0.54% to R18.3210/£. The euro had gained 0.19% to $1,1311.
No major data is expected on the local front. The US and the eurozone are set to release IHS Markit manufacturing purchasing managers’ index figures for June.