The JSE was higher on Thursday morning, tracking most global markets as more positive news in the US-China trade dispute lifted sentiment.
US president Donald Trump said on Thursday that the US and China had agreed to postpone the 25%-30% tariff on $250bn worth of the latter’s imports. Trump said the imposition of the tariffs would be moved from October 1 to October 15 as a “gesture of good will”. On Wednesday, China exempted 16 US products from additional tariffs.
The European Central Bank is expected to announce its decision on monetary policy on Thursday. Markets are anticipating that the bank will take a dovish stance amid fears of a global recession.
Earlier, the Shanghai Composite was up 0.75% and Japan’s Nikkei 225 0.75% while Hong Kong’s Hang Seng lost 0.26%. In Europe, the FTSE 100 added 0.26% and Germany’s DAX 30 0.14%.
The JSE all share was up 1.08% to 56,850 points and the top 40 1.05%. Banks were up 2.25% and platinum miners 2.16%.
Spur Corporation added 1.14% to R22.25 after the fast-food franchise group said on Thursday that its headline earnings per share increased 10.8% to 173.68c in the year to end-June.
African Rainbow Capital Investment was up 0.24% to R4.10. The company said on Thursday that its net asset value (NAV) grew 2.4% to R9.45 per share in the year to end-June.