JSE pushes higher in broad-based gains

The JSE pushed higher in broad-based gains on Friday, looking to end the week with its best performance since early January.

Positive Chinese economic data, signs of progress in the US-China trade talks, as well as a reprieve from Moody’s Investors Service has proved positive for local equities.

On Friday, gold and platinum miners were leading the gains, with the latter boosted by a rising precious metal price. The platinum index has performed best so far in 2019, lifted by a rising palladium price, platinum’s sister metal.

The price of platinum, however, has risen more than 6% so far this week, reaching $900 for the first time in 10 months.

At 10am the all share was up 0.33% to 57,900.5 points and the top 40 0.37%. Gold miners were up 2.43% and platinums 1.45%.

The rand had firmed 0.21% to R14.094/$. Platinum was up 0.14% to $900.36/oz while gold was down 0.16% to $1,290.16. Brent crude was down 0.19% to $69.08 a barrel.

There was little corporate news to give the local bourse direction, and the bulk of focus is offshore. US nonfarm payrolls numbers are due at 2.30pm.

On Thursday, US President Donald Trump said a trade deal with China was about four weeks away, although he did not announce a date for a summit with Chinese President Xi Jinping, reported Dow Jones Newswire

Naspers was up 0.49% to R3,487.08.

British American Tobacco was down 0.6% to R537.04.

Sibanye-Stillwater was up 1.5% to R16.19.

MTN was up 1.1% to R93.39.

Mr Price added 1.69% to R195.

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