JSE gains on trade war developments
The JSE was up on Monday morning, tracking global markets as the latest developments in the US-China trade war aided risk assets.
US national security adviser Robert O’ Brien said at the weekend that a phase-one trade agreement may be concluded by the end of 2019, CNBC reported.
According to reports, China will raise penalties on the violation of intellectual property rights, adding to hope that the two economic superpowers are making progress to resolve the 16-month-long trade war.
“The move suggests that key concessions are being made to increase the prospects of a partial US-China deal, which is giving investors another opportunity to capitalise on risk-on trading activity,” FXTM market analyst Han Tan said.
In Europe, the FTSE 100 added 0.71%, France’s CAC 40 0.6% and Germany’s DAX 0.52%.
The Shanghai Composite was up 0.72%, Hong Kong’s Hang Seng 1.5% and Japan’s Nikkei 225 0.78%.
At 10.53am, the JSE all share was up 0.47% to 57,025.5 points and the top 40 0.51%. Resources were up 1.18% while banks lost 0.7%.
Pepkor Holdings said on Monday that total headline earnings per share (HEPS) increased 14.5% to 96.8c in the year to end-September. Its share price was up 2.51% to R18.40.
Sasol said on Monday that it expects HEPS to decrease by at least 20% to R4.65 in the half year to end-December. Its share price was up 1.19% to R285.99.
Source: businesslive.co.za