JSE. Picture: MICHAEL ETTERSHANK
JSE. Picture: MICHAEL ETTERSHANK

The JSE faces mixed Asian markets on Wednesday morning, with little to drive global direction, while locally South Africans have to contend load-shedding and focus remains on corruption.

The rand is still rangebound, though President Cyril Ramaphosa appears to be taking a firmer grip on the ANC after the weekend’s national executive committee (NEC) meeting, Peregrine Treasury Solutions executive director Bianca Botes said in a note.

The ANC has announced that officials formally charged with corruption must step aside from their posts.

Globally, focus is on economic data, with European data on Tuesday mixed.

In morning trade the Hang Seng was down 0.55% while Japan’s Nikkei was up 0.34%.

Tencent, which influences the JSE via Naspers, had added 1.21%.

The rand was 0.21% firmer at R16.63/$.

Gold was 0.32% weaker at $1,963.03/oz while platinum was down 0.26% to $937.03. Brent crude was 0.26% higher at $45.88 a barrel.

Libstar, the owner of Denny mushrooms and Lancewood cheese, is scheduled to release its results for the half year to end-June later. The group said recently that it had faced higher costs due to the Covid-19 pandemic.

gernetzkyk@businesslive.co.za

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