Advertise with fastmoving.co.za
 
 

JSE likely to follow Wall Street up on Monday
JSE likely to follow Wall Street up on Monday

JSE likely to follow Wall Street up on Monday

ECONOMIC NEWS

bdlive.co.za - Aug 8th 2016, 08:56

STOCK exchanges trading ahead of the JSE on Monday took their cue from Wall Street where the S&P 500 gained 0.86% to a fresh record 2,183 points on Friday. 

STOCK exchanges trading ahead of the JSE on Monday took their cue from Wall Street where the S&P 500 gained 0.86% to a fresh record 2,183 points on Friday.

Tokyo’s Nikkei 225 index gained over 2% on Monday morning, with manufacturers boosted by the yen weakening a further 0.2% to ¥101.99 per dollar after dropping 0.6% on Friday.

The rand, in contrast to the yen, strengthened to under R13.70 per dollar by Monday morning following Friday afternoon’s US jobs data which indicated the Federal Reserve may yet raise interest rates this year.

The rand also strengthened against the pound, trading at about R17.93/£.

Steinhoff over the weekend announced its entry into the US by agreeing to acquire Mattress Firm Holding Corporation for $2.4bn.

Volumes on the JSE are likely to be thin on Monday, with much of the country taking the day off ahead of Tuesday’s Women’s Day public holiday.From DFM Publishers (Pty) Ltd 

Read more about: markets | jse | economy

Related News

4 reasons to be hopeful about South Africa’s economy
12/09/2019 - 14:40
Markets responded positively to South Africa’s economic growth rebounding in the second quarter, up 3.1%, and 0.9% for the year to June 2019.

Eskom: The largest threat to the stability of the SA economy
10/09/2019 - 09:45
On Tuesday 23 July, South African Finance Minister Tito Mboweni tabled a bill before the National Assembly which would see national state-owned power utility Eskom benefit from an allocation of R59 billion over the next three years.

Innovative leasing deals boost Kenya's office market
04/09/2019 - 09:25
A creative approach to leasing deals is helping innovative landlords offset the challenges of high vacancies in an overstocked Nairobi office market, according to Broll Property Intel’s latest Kenya Office Market Snapshot H1:2019 report.

Lego's sales bounce back with the help of Marvel superheroes
04/09/2019 - 09:11
Models of superheroes and villains from Marvel’s Avengers movies helped lift first-half sales at Lego, as the Danish toymaker continued its turnaround drive with investments in China, India, the internet and new stores.

No pain, no gain for SA economy
02/09/2019 - 16:22
Despite SA’s fiscal crisis — and the fact that the country has very little to show for the loose fiscal policy run over the past decade — there is a lobby (mainly on the Left) that thinks the best way to resolve SA’s growth and fiscal challenges is to inject further fiscal stimulus into the economy.