SA Company News:
The JSE looks set to contend with mixed Asian markets on Wednesday morning, with worrying Covid-19 numbers in countries such as South Korea and the US putting pressure on riskier assets this week.
Tencent, which can give direction to the JSE via the Naspers stable, fell 1.47%
The JSE performed better than its European counterparts on Tuesday, led higher by the resource sectors which were due to higher commodity prices and a weak ZAR. Updates from BHP (+3.5%), Anglos (+1.6%), and Kumba (+1.8%) were welcomed by the market
Riots hit 40 000 businesses, as President Cyril Ramaphosa admits government did not react fast enough.
Expectations are again being created that a final decision on the future of e-tolls on the Gauteng Freeway Improvement Project (GFIP) is imminent.
US stocks rebounded sharply from Monday’s sell-off triggered by a covid-inspired global growth scare. The Dow Jones Industrial Average rallied 550 points or 1.6% yesterday.
Asian-Pacific markets are mixed this morning. Japan is up 0.6%.
Oil prices fell on Wednesday after an industry report showed an unexpected build-up in US oil inventories last week.
Gold Down to $1812 as Investors regain risk appetite.
Bitcoin recovered from a one-month low and broke back above $30,000 on Wednesday, suggesting firm support around that level even as the mood in broader financial markets remained fragile.
Overnight, the rand softer at R14.70 to the USD.
|Commodities $||Cross Currencies ($)||Major Indices|
|Source: Investing.com||Source: Investing.com||Source: Investing.com|