JSE on course to follow global markets higher
SA’s main stock exchange is on track for a second consecutive week of gains, as local stocks recover some of the hefty losses incurred in May.
The JSE all-share index is up 2.6% so far this week, and could hang on to those gains on Friday as global stocks edge higher.
US equities rose for a third straight day on Thursday on rising hopes of a trade deal between the US and Mexico.
While markets in China and Hong Kong are closed for holidays on Friday, Japan’s Nikkei 225 index rose 0.6% and Korea’s Kospi 0.4%.
Australia’s main benchmark gained 0.7%, with JSE-listed BHP Group jumping 2% in that market.
On the JSE, property developer Attacq will provide a year-to-date update to shareholders on Friday morning.
The SA Reserve Bank is scheduled to release data on gold and foreign exchange reserves, and statements of assets and liabilities.
Traders will also shift their focus towards a meeting of G-20 finance ministers and central bankers this weekend in Japan, and will look for any updates regarding US-China trade negotiations.
Amid uncertainties about the future mandate of the SA Reserve Bank, the rand remained on the back foot on Friday morning.
It was at R15.03/$, R19.08/£ and R16.93/€.
Source: businesslive.co.za
