JSE looks set for a subdued day

Activity on the JSE should be somewhat subdued on Friday, as markets wait for key US jobs numbers, while Chinese markets are closed.

There is little to give the market clear direction, but the JSE’s top 40 future’s index closed 0.45% lower on Thursday, pointing to a weak opening for the local bourse.

At 7.30am the rand was flat at R14.1273/$ and R15.8621/€, although it had weakened 0.3% to R18.5207/£. The euro was flat at $1.1228.

Gold was weaker at 0.19% to $1,289.81/oz while platinum fell 0.73% to $892.58. Brent crude was flat at $69.25 a barrel.

Japan’s Nikkei was up 0.22%, while the Australian stock exchange’s all ordinary index had fallen 0.79%.

The most closely watched event this week has been US-China trade talks, with US President Donald Trump meeting with Chinese Vice Premier Liu He on Thursday.

Trump failed to announce a summit with Chinese President Xi Jinping as anticipated, but said a trade deal may be struck within the next month, reported Dow Jones Newswires.

Corporate news was light, and has been this week. 

On Friday, Afrimat said it expected headline earnings per share to rise by between 20% and 30% for the year to end-February. Its results are expected on May 23.

The week’s major economic release comes at 2.30pm local time with the release of US nonfarm payrolls numbers for March.

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