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MARKET WRAP: JSE gains as markets eye US-China trade deal developments

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The rand was the third worst performer among emerging-market currencies on the day

The JSE closed higher for a sixth consecutive trading session on Wednesday, while global markets were mixed as investors await more developments in the US-China trade war.

Shortly after the JSE closed, the Dow was marginally higher at 27,498.50 points, boosted by an upbeat earnings season. In Europe, the FTSE 100 was little changed, while France’s CAC 40 added 0.35% and Germany’s DAX 30 0.22%. Gold was up 0.24% to $1,486.93/oz while platinum was flat at $926.69. Brent crude fell 1.37% to $62.17 a barrel.

The JSE all share rose 0.71% to 57,652.6 points and the top 40 0.84%. Platinum miners gained 5.81%, banks 0.94% and resources 1.03%. Nedbank gained 1.59% to R242.26, FirstRand 1.01% to R69.04, Absa 0.69% to R161.67, and Standard Bank 0.86% to R180.77. South32 gained 2.65% to R27.09. The miner said on Wednesday that Seriti Resources has reached a deal to acquire South32’s coal assets.

 

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