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MARKET WRAP: JSE flat as Naspers offsets slump by banks

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Global equities have been buoyed by further signs that a US-China trade deal is imminent, while local banks and gold miners came under pressure

The JSE was little changed on Monday, as a strong performance by market heavyweight Naspers offset a slump by banks and gold miners.

The all share rose 0.02% to 56,217.1 points, while the top 40 gained 0.11%. Gold miners slumped 5.4%, banks 2.43% and financials 1.51%. Industrials added 1.14%. Focus this week will be on news from the US-China trade negotiations, while local GDP numbers for the fourth quarter are due on Tuesday. Gold was down 0.54% to $1,285.29/oz and platinum 2.26% to $838.84. Brent crude had gained 1.88% to $66.10 a barrel.

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