JSE on track for best weekly performance in three weeks
Locally, Moody's Investors Service is scheduled to release its ratings review on SA on Friday
The JSE looks set for its best weekly gain in three weeks bolstered by the US Federal Reserve’s decision to cut its interest rate for a third time in 2019.
“[Fed chair Jerome] Powell and his colleagues have clearly satisfied investors’ craving for cuts and eased recession fears going into 2020,” Oanda senior market analyst Craig Erlam said.
“The mid-cycle adjustment would appear to be over and investors are at ease with that, with no more cuts expected until this time next year.”
Optimism surrounding the US-China trade deal was dented on Thursday after reports that Chinese officials have doubts about reaching a comprehensive long-term trade deal with the US.
Markets are awaiting US nonfarm payroll figures for October on Friday. The data is considered an important indicator of the state of the US economy.
Locally, Moody's Investors Service is scheduled to release its ratings review on SA on Friday.
Earlier, the Shanghai Composite was up 0.99% and Hong Kong's Hang Seng 0.72% while Japan's Nikkei 225 was down 0.33%.
At 11.13am, the JSE all share was down 0.1% to 56,368 points and the top 40 was flat. Banks lost 0.6% and financials 0.52%.
Taste Holdings said on Friday that it planned to exit its food business, which will include the sale of Starbucks and Domino's Pizza. Its share price was unchanged at 7c.
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