Picture: 123RF/DANIIL PESHKOV
Picture: 123RF/DANIIL PESHKOV

The JSE looks set to open to continued positive sentiment on Thursday, though activity could be subdued ahead of Christmas.

Globally, countries are grappling with a surge in Covid-19 as the Omicron variant continues to spread, but the fourth wave appears to be peaking in Gauteng, while the National Institute of Communicable Diseases said on Wednesday that a study found it to be less severe than the Delta variant.

US GDP data for the third quarter was also bumped up to 2.3% from the preliminary figure of 2.1% on Wednesday.

“A cocktail containing better US third-quarter GDP data, along with positive Omicron headlines further inoculated financial markets against a year-end sell-off overnight,” said Oanda senior market analyst Jeffrey Halley in a note.

In morning trade the Shanghai was flat, while Japan’s Nikkei had added 0.57% and the Hang Seng 0.14%.

Tencent, which influences the JSE via the Naspers stable, was up 4.15%.

Gold was up 0.21% to $1,807.12/oz while platinum gained 0.18% to $972.50. Brent crude was 0.11% weaker at $75.52 a barrel.

The rand was flat at R15.71/$, having gained 0.88% on Wednesday.

The local corporate and economic calendar is bare on Thursday.

gernetzkyk@businesslive.co.za

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