JSE tracks upbeat global markets
The JSE pushed higher on Tuesday, tracking buoyant global markets, though a stronger dollar served as a headwind for precious-metals miners.
The all-share firmed 0.4% to 52,165.5 points and the top 40 0.52%. Gold miners lost 4.1%, platinums 1.33% and food and drug retailers 0.65%.
Industrials gained 0.62% and resources 0.66%.
The greenback was bolstered by ongoing trade talks between the US and China, with upbeat comments from officials on both sides providing some optimism for traders.
A firmer dollar can make commodities more expensive for those holding other currencies.
A rising oil price provided some support for diversified miners, with BHP rising 1.5% to R301.45 and Glencore 1.74% to R51.60.
Domestic factors are in the backseat this week, though the SA Chamber of Commerce and Industry business confidence index for November is due on Thursday.
Manufacturing data for November is due the same day. Brexit is also on the radar. British American Tobacco gained 1.8% to R446.89, recovering slightly from Monday’s 5.33% slump.
US stockbroking firm Cowen on Monday downgraded the sales outlook of a number of cigarette manufacturers.
AB InBev gained 3.25% to R984.41 and Richemont 2.63% to R92.32.
Anglo Gold Ashanti slumped 5.29% to R171.42, Harmony 4.21% to R25.92 and Gold Fields 3.3% to R48.98.
Hammerson rose 3.69% to R60.35, Intu 3.11% to R19.88 and Capital & Counties 3.26% to R43.41. Naspers rose 0.48% to R2,835.49.