JSE pushes higher in low-volume trade

The JSE pushed higher in broad-based gains on Wednesday, while global markets paused a little as investors waited for new catalysts.

With a number of Asian markets closed for the lunar new year, activity has been subdued, while in the US corporate earnings season continues.

Volumes on the bourse were low, at R11bn, compared to the daily average of R20bn.

The all share gained 0.67% to 54,574.3 points and the top 40 rose 0.67%.

Platinums added 2.38% and industrials 0.9%.

The focus on Thursday will be on President Cyril Ramaphosa’s state of the nation address.

The SA Chamber of Commerce and Industry (Sacci) business confidence index came in at 95.1 index points in January, almost unchanged from December’s 95.2.

Sacci noted that although there had been a decline in nine of the index’s 13 sub-indices, “in general the assessment is that the economy and the business climate are better placed for improved performances than the sentimental euphoria of a year ago”.

Sappi fell 5.1% to R75.73, despite reporting earlier that sales in the quarter to end-December rose 28.5%.

Mpact rose 4.78% to R24.99, extending Tuesday’s 12.24% gain.

Curro recovered 2.87% to R27.27, having slumped 7.47% on Tuesday. –