What’s the JSE doing?
25 May 2016 JSE index
South African markets closed higher yesterday. Old Mutual rose 5.5%, after it announced that as a part of its restructuring plan, it is close to selling its US asset management business to New York-listed Affiliated Managers Group. Naspers gained 2.8%, following news that its Chinese Tencent investment in which it holds 34.0% interest, intends to purchase a stake in Supercell, a Finnish mobile gaming group. Miners, Anglo American and BHP Billiton advanced 2.1% and 1.6%, respectively. On the flipside, Rebosis Property Fund dropped 5.3%. The company had announced a tie-up on Monday with the Billion Group, a sister company, which would make it the largest black-owned real estate company in the nation. The JSE All Share Index rose 0.8% to close at 53,050.76, while the Top 40 added 1.07%.
Currently the market is: up 0.51%.
UK markets closed higher yesterday, with benchmark index closing at its highest level since 29 April 2016, amid a recovery in crude oil prices. The FTSE 100 advanced 1.3%, to close at 6,219.26, while the DAX and CAC40 ended 2.18% and 2.46% higher respectively.
US markets ended higher yesterday, led by a rally in financial and technology sector stocks. The S&P 500 Index rose 1.4% to settle at 2,076.06, while the DJIA Index advanced 1.2% to close at 17,706.05. The NASDAQ Index gained 2.0% to finish at 4,861.06.
Markets in Asia are trading higher this morning, following an overnight rally on Wall Street. The Nikkei 225 index is trading 1.5% higher at 16,745.21. The Hang Seng index is trading 2.5% up at 20,317.84, while the Kospi index is trading 1.3% higher at 1,962.30. Meanwhile, the ASX was also trading higher, up 0.51%.
- At 09:00 SAST today, Brent crude oil traded at $49.28/bl.
- At 09:00 SAST today, gold prices traded at $1225.63/oz.
Yesterday, the South African rand strengthened against the US dollar. In economic news, South Africa’s leading indicator index rose for March. In the US, Richmond Fed report indicated that manufacturing sector activity in the region dropped for May. Separately, data showed that new home sales unexpectedly rose for April. Later in the day, investor focus will be on the preliminary reading of the US manufacturing PMI. Also on tab will be today’s goods trade balance data along with a speech by a key Fed official.
- At 09:00 SAST, the USD / ZAR at R15.52, while the EURO is trading at R17.31 and the GBP traded at R22.68
– SA Stockbrokers Ballito
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