JSE faces mostly firmer Asian markets on Thursday
The JSE faces slightly firmer Asian markets on Thursday morning, with all eyes on the European Central Bank (ECB) policy meeting later.
US markets recovered somewhat on Wednesday from a recent tech-led sell-off, while the rand has also mostly recovered from its fall after the release of Tuesday’s GDP figures.
The rand staged a decent recovery to the R16.60/$ level on Wednesday, tracking a stronger euro, as the focus shifts to the ECB meeting on Thursday, said Peregrine Treasury Solutions executive director Bianca Botes in a note.
In morning trade the Shanghai Composite was up 0.29% and Japan’s Nikkei 0.59%.
Tencent, which often gives direction to Naspers, its largest single shareholder, was up 2.28%.
The rand was 0.18% weaker at R16.64/$.
Gold was flat at $1,945.52/oz, while platinum had fallen 0.2% to $918.69. Brent crude was 0.12% weaker at $42.50 a barrel.
Later on Thursday, insurer Sanlam is expected to report pressure from bad-debt provisions and writedowns in its six months to end-June.
FirstRand is expected to report profits declined more than a third in its year to end-June, as it grapples with higher credit-impairment provisions.
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