The JSE faces mixed Asian markets on Monday morning, with upbeat Chinese data contending with end-of the month trade.

Investor confidence in US equities has been holding up, said Axi chief global markets strategist Stephen Innes in a note, though risk sentiment may be volatile in December, especially amid looming run-off elections that could determine the composition of the Senate.

Investors will also be thinking about protecting performance as the year ends.

Earlier, China’s official manufacturing purchasing managers index for November came in higher than expected, and at a three-year high, further evidence of a strong recovery in the world’s second-largest economy.

In morning trade the Shanghai composite was up 1.07%, while the Hang Seng fell 0.47%.

Tencent, which gives direction to the JSE via Naspers, fell 1.2%.

Gold was down 1.01% to $1,771.47/oz while platinum lost 0.34% to $961.20. Brent crude was 0.31% lower at $47.55 a barrel.

The rand was flat at R15.24/$.

Locally, logistics and fleet management group Barloworld is scheduled to release its results for the year to end-September later, saying in a recent trading update it felt pressure from a weak consumer demand and trading restrictions. Normalised headline earnings per share is expected to fall 27%-32% relative to the prior comparative period.

Infrastructure and mining group Aveng is due to report its results for the year to end-June later, saying in a recent update that after a strong first half, it took a R380m operational profit hit in its second due to Covid-19 disruptions.

Property group Redefine is scheduled to release its results for the year to end-August later, saying in a recent update distributable income per share fell 49% compared with the prior year period, though a decision on a dividend has been deferred to early 2021.


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