JSE could open lower as Middle East tension weighs on markets
The JSE could begin its second trading session of 2020 on the back foot, tracking weaker Asian markets as investors ponder the effect of rising tension in the Middle East.
The US confirmed on Friday that a top Iranian military commander was killed in a US air strike in Baghdad earlier in the day. This prompted the price of Brent crude to surge more than 3%, to its best level in over three months, while Asian stocks fell.
The Shanghai Composite was last seen down 0.32% and Hong Kong’s Hang Seng 0.35%, while Japan’s Nikkei 225 was closed.
At 7.26am Brent crude had climbed 3.26% to $68.30 a barrel after earlier reaching a high of $69.10. Gold added 0.75% to $1,540.18/oz, while platinum was flat at $982.62.
The rand entered its second day of losses, falling 0.62% to R14.1725/$. It had also weakened 0.55% to R15.8244/€ and 0.41% to R18.5876/£. The euro was flat at $1.1165.
No major domestic economic or companies events are expected on Friday.
Source: businesslive.co.za
