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MARKET WRAP: JSE tracks firmer global markets as investors await Trump speech

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Markets really do seem to be trading as if in limbo, according to one analyst

The JSE tracked most global markets a little higher on Tuesday, with platinum miners faring best, while the US-China trade war continued to steal investor focus.

Markets really do seem to be trading as if in limbo, Rand Merchant Bank analyst Siobhan Redford said. “Every couple of weeks, some hope that a deal is nearby is injected into the market, only to be followed by news of continued friction. This time is no different.” The JSE all share ended the day 0.4% higher at 56,399.1 points and the top 40 added 0.47%. Platinum miners gained 3.4%, banks 0.67%, resources 0.58%, and food and drug retailers 0.55%. The SA listed property index fell 0.62%.Telkom leapt 6.68% to R66.14, despite having earlier said that headline earnings per share for the six months to end-September fellpartly due to its ramping up spending on its mobile offering.

Anglo American rose 0.73% to R386.98. Bloomberg reported earlier that the mining giant had dropped another hint that its days of mining the world’s most polluting fuel are limited.

 

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