Picture: BLOOMBERG/WALDO SWIEGERS
Picture: BLOOMBERG/WALDO SWIEGERS

Uncertainty on how the Brexit process will unfold may weigh on the JSE on Monday morning, and the local bourse may also need to react to a sharp drop on US markets on Friday.

Negative corporate news about Boeing and Johnson & Johnson weighed on US equities, though most companies reporting third-quarter results are beating analyst expectations.

Uncertainty reigns with regards to Brexit, with UK Prime Minister Boris Johnson reluctantly requesting yet another extension of the October 31 Brexit deadline, after a narrow defeat of his proposed deal in the UK parliament at the weekend.

There is still a chance that a withdrawal agreement will be passed this week.

Also boosting sentiment a little on Monday morning were comments by Chinese officials that the country is working with the US on a formalising a recent partial trade deal.

Asian markets were mixed on Monday morning, with the Hong Kong Hang Seng up 0.32%, while the Shanghai composite was flat.

Tencent had slipped 1% in Hong Kong, while diversified mining giant BHP was up 0.45% on the Australian Securities Exchange.

Gold was flat at $1,489.72/oz while platinum had added 0.24% to $892.58. Brent crude was 0.12% lower at $59.22 a barrel.

The rand was 0.14% firmer at R14.7535/$.

Locally, the corporate and economic calendar is bare, though Tiso Blackstar Group, the publisher of Business Day, is expected to report later that its headline loss for the year to end June widened as much as 166.3% from the prior comparative period. Much of this fall is due to impairment of equity loans to steel company Robor, which was recently placed in liquidation.

gernetzkyk@businesslive.co.za