The JSE gained on Friday as global equity markets rose following reports that progress was being made in the US-China trade talks.
Gains in the platinum and gold sectors could be attributed in part to the labour court’s decision earlier to disallow a sympathy strike in the sectors after the Association of Mineworkers and Construction Union applied for permission to stage a seven-day secondary strike across a range of gold- and platinum-mining companies.
Shortly after the JSE closed, the gold price had risen 0.52% to $1,302.93/oz and platinum 0.81% to $830.21. Brent crude had given up 0.86% to $66.58 a barrel. Rand hedges gained despite the stronger local currency, with AB InBev up 0.88% to R1,170.20, British American Tobacco 0.91% to R582.78, and Richemont 0.46% to R104.03.Naspers was flat at R3,1460. Its Hong-Kong listed associate Tencent is due to release results next week.
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