JSE could follow firmer Asian markets on Friday
Wall Street pushed higher overnight, though the rise in Covid-19 in the US remains a threat to sentiment
The JSE opens to firmer Asian markets on Friday morning, though rising Covid-19 cases in the US is still weighing on sentiment.
The US Federal Reserve has imposed new restrictions on banks, such as stopping share buybacks, after stress testing showed that they may reach minimum capital levels.
This was largely brushed off, and some US equities continued to recover from a recent sell-off, even though a hoped-for rapid economic recovery is in doubt, said Oanda senior market analyst Jeffrey Halley in a note.
In morning trade the Australian All Ordinaries index was up 1.45% and Japan’s Nikkei 1.3%.
Markets in China are closed for the Dragon Boat festival.
Gold was 0.2% lower at $1,759.80/oz while platinum had given back 0.14% to $802.19/oz. Brent crude was 0.48% higher at $41.62 a barrel.
The rand was 0.1% firmer at R17.12/$.
Aluminium supplier Hulamin, whose customers include Tesla, is expected to report it fell into a loss in its year to end-December later on Friday, having said in a recent update it had grappled with a weak environment in 2019, with its business characterised by high fixed costs.