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MARKET WRAP: JSE pushes towards 58,000 points, led by miners

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Global sentiment is risk-on again, boosted by reports by the Financial Times that the US and China are ‘90% done’ with a trade deal

The JSE pushed higher in broad-based gains on Wednesday, with platinum miners resuming their winning streak.

Chinese data this week has also been upbeat, with a gauge of activity in that country’s services sector earlier rising to a 14-month high, according to Dow Jones Newswires. Exxaro gained 3.16% to R177.73. The price of iron ore has risen this week, after the world's largest producer, Vale, said it had failed to obtain stability certificates for 13 waste dams at one of its mines in Brazil. The dams were reviewed after a burst killed about 300 people in January.

Ayo was unchanged at R15, and has not moved since Monday, when it reported that revenue increased 93% in six months to end-February. The bid for Ayo’s share — or the highest asking price in the market — was at R5, according to Iress data.Global focus remains on headlines from ongoing US-China trade talks in Washington, as well as Brexit developments.

 

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