JSE opens to mixed Asian markets on Friday
Trade on Wall Street was volatile as investors considered the chances of a new US fiscal stimulus package
The JSE faces mixed Asian markets on Friday morning, with sentiment volatile as investors considered political battles in the US, and rising Covid-19 numbers.
The continued lack of progress on passing another US stimulus package is becoming a more prominent concern amid signs of stalling in the US labour market, said National Australia Bank analyst Gavin Friend in a note.
There is also uncertainty regarding a contested US national election, while rising Covid-19 numbers in Europe is also weighing on sentiment, Friend said.
US markets eked out somewhat small gains on Thursday, under pressure later in the day due to uncertainty regarding US politics.
Asian markets were mixed on Friday morning, with the Shanghai Composite down 0.24%, while Japan’s Nikkei had risen 0.42%.
Tencent, of which Naspers is the largest single shareholder, had risen 0.1%.
Gold was up 0.19% to $1,871.18/oz while platinum had risen 0.53% to $855. Brent crude had added 1.05% to $42.17 a barrel.
The rand was flat at $16.91/$.
Rand Merchant Investment Holdings is expected to report a profit fall of up to 55% in its year to end-June later, amid pressure on insurance groups Discovery and Momentum Metropolitan.
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