JSE gains as investors await more trade-war developments
The markets will be closely watching the final meetings from the ECB and the US Federal Reserve later in the week
The JSE started the week on a positive note while investors await more news on the trade-war front.
China said on Monday that it hopes to reach a mutually beneficial trade deal with the US as soon as possible, Reuters reported. The latest comments from China come just days before the US is expected to impose a tariff hike on Chinese imports.
The markets will also be closely watching the final meetings from the European Central Bank (ECB) and the US Federal Reserve later in the week.
“Neither of these meetings is expected to yield an interest rate move, or even intensifying quantitative easing in the case of the ECB,” RMB analyst Siobhan Redford said.
Earlier, the Shanghai Composite and Hong Kong's Hang Seng were flat while Japan's Nikkei 225 was up 0.33%.
At 10.50am, the JSE all share was up 0.13% to 55,381.2 points and the top 40 0.14%. Gold miners were down 0.97% while resources added 0.31%.
Naspers said on Monday that Prosus had increased its offering for online takeaway service Just Eats. The Netherlands-based company increased its offering by 4.22% to 740 pence (R142.18) per share for each Just Eats share. Naspers was up 0.25% to R2060.29 and Prosus added 0.76% to R972.93.
Alexander Forbes added 0.99% to R5.10. The financial services company said on Monday that its normalised headline earnings per share rose 43% to 27.2c in the six months to end-September.