JSE gains amid global risk-on sentiment
The JSE all share was in positive territory on Tuesday, tracking Asian stocks as investors cheered the prospects of a partial trade deal between the US and China.
Reports that the US is considering scrapping some tariffs on Chinese imports boosted global market sentiment amid hope that the US and China will sign a partial trade deal later in November.
Earlier, the Shanghai Composite added 0.54%, Hong Kong’s Hang Seng 0.49% and Japan’s Nikkei 225 1.76%.
At 10.50am, the JSE all share added 0.37% to 57,141 points and the top 40 0.39%. Financials were up 1.02% and banks 0.81%.
MC Mining jumped 29% to R6.30 after the company said on Tuesday that it had been granted a mining right for its Generaal coking and thermal coal project.
The Standard Bank purchasing managers’ index rose to 49.4 index points in October from in 49.2 in September. The consumer confidence index, compiled by FNB and the Bureau for Economic Research, however, dropped to -7 in the third quarter from five points in the previous quarter.
Source: businesslive.co.za