JSE firms as gold miners lead gains

Picture: RUSSELL ROBERTS
Picture: RUSSELL ROBERTS

The JSE started the week in positive territory with gold miners leading gains while investors remain cautious ahead of trade negations between the US and China.

Chinese and US officials are expected to resume negotiations in Washington this week, with markets sceptical that the US and China will reach a trade deal this week.

“With trade talks occurring later in the week, there will be some hope that progress can be made towards ending the trade war that has weakened the global economy. It's probably far more likely that a deal is as far away as it is now and a no-deal Brexit remains the most likely outcome,” senor market analyst at Oanda Craig Erlam said.

Earlier, Japan's Nikkei 225 was down 0.16% while the Shanghai Composite and Hong Kong's Hang Seng were closed for public holidays. In Europe, the FTSE 100 was flat while France's CAC 40 was down 0.15% and Germany's DAX 0.13%. 

At 10.57am, the JSE all share added 0.26% to 54,134.7 points and the top 40 was 0.29% higher. Gold miners climbed 3.7% while banks were down 1.42%. 

Clicks jumped 8.51% to R236.76 after saying on Monday that it expected diluted headline earnings per share to have increased between 15% and 18% to between 661.6c and 678.9c in the year to end-August.

mjoo@businesslive.co.za

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