JSE on track to snap two-week winning streak on Friday

The JSE will begin Friday morning on track to snap a two-week winning streak, though trading may be volatile as the market waits for new Brexit-related headlines.

UK Prime Minister Boris Johnson has punted a fresh general election to resolve disagreements on Brexit on December 12, though Labour party leader Jeremy Corbyn says he will not agree until a no-deal Brexit is ruled out.

All eyes are on the EU, however, with investors waiting to hear its decision on whether, and for how long, the October 31 Brexit deadline will be extended.

At 6.10am Asian markets were mixed, with Japan’s Nikkei up 0.55%, while Hong Kong’s Hang Seng had fallen 0.44%.

Gold was flat at $1,502.70/oz while platinum had risen 0.44% to $926.09. Brent crude was down 0.2% at $61.36 a barrel.

The rand was flat at R14.6902/$, but has firmed 0.46% so far in the week.

Tencent was down 0.2%, having been under pressure this week, and helping to prompt a 6% fall for market heavyweight Naspers, which owns just under a third of the WeChat owner.

The JSE has fallen 0.44% so far in the week.

Locally, the corporate calendar is bare, with focus instead on Brexit, amid reports that the EU may delay its decision on the deadline extension to Monday.

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