JSE could follow firmer Asian markets on Thursday
The JSE faces an uncertain global market on Thursday morning, though Asian markets were firmer ahead of the European Central Bank (ECB) policy announcement later in the day.
Global stocks are finding some support from positive US-China trade war developments, with both sides expressing optimism that a partial deal agreed to earlier in October could be formally adopted.
Brexit uncertainty persists, with investors waiting to hear from the EU whether the UK’s request for another deadline extension will be granted.
“Brexit remains of great concern, and though few developments materialised last night, the market is maintaining confidence a deal will be coming,” said AxiTrader senior market analyst Stephen Innes in a note.
At 6.30am, Hong Kong’s Hang Seng was up 0.47% and Japan’s Nikkei 0.34%.
Tencent was, however, down 0.7% amid protests in Hong Kong and general pressure on tech stocks.
Gold was flat at $1,492.30/oz while platinum had risen 0.26% to $922.77. Brent crude had fallen 0.33% to $60.84 a barrel, though it is still up 2.65% so far this week.
The rand was 0.14% firmer at R14.6237/$.
International focus is on the ECB policy meeting, though no change in rates is expected. US third-quarter reporting season is also in full swing, with the likes of Twitter and Amazon due to update the market.
Locally, there are no major economic releases, while Clicks expects to report that headline earnings per share for its year to end-August rose by between 15% and 18%.
Source: businesslive.co.za
