JSE faces mixed Asian markets amid focus on the US
The JSE faces mixed Asian markets on Friday morning, with oil prices under pressure as investors consider US politics.
The chances of another US stimulus package is driving sentiment, while US President Donald Trump has begun quarantine after one of his aides tests positive for Covid-19.
US political parties remain deadlocked over how much stimulus to provide, though their differences have eased a bit recently, analysts said.
“We will likely be held in stimulus limbo for a bit, and in which case, risk sentiment will remain fragile and skewed to the downside where oil is the weakest link,” said Axi chief global markets strategist Stephen Innes in a note.
In morning trade on Friday the Australian All Ordinaries index was down 0.34% while Japan’s Nikkei was up 0.33%.
Gold was down 0.61% to $1,894/oz while platinum was 0.65% lower at $891.65. Brent crude had fallen 0.39% to $40.52 a barrel.
The rand had weakened 0.21% to R16.63/$.
US nonfarm payrolls numbers for September are due later, which are closely watched to determine the health of the world’s largest economy.
Locally, mining-focused investment holding company Unicorn Capital Partners is expected to report its headline loss per share reduced slightly in its year to end-June.
Source: businesslive.co.za
