The JSE could be under pressure on Friday morning, as investors digest dire economic data out of the eurozone, and the failure of the drugMarkets had been boosted by reports that remdesivir had helped Covid-19 patients with severe symptoms recently, however, the Financial TimesMarkets were also digesting a fall in the eurozone purchasing managers’ index to a record low of 13.5 points in April. Anything below 50 points reflects a contraction in activity.
This had reaffirmed the economic fallout from the virus, and eroded risk appetite, said Peregrine Treasury Solutions executive director Bianca Botes in a note. In morning trade on Friday the Shanghai Composite was down 0.62% while Japan’s Nikkei had fallen 0.74%.Tencent was down 0.63%. Naspers, Africa’s largest company by market capitalisation, is the biggest shareholder of the WeChat owner.
Gold was down 0.39% to $1,739.29/oz while platinum was up 1.97% to $768.35. Brent crude was up 3.80% to $22.39 a barrel.There is little on the local economic calendar on Friday. Investment holding company Trematon Capital Investments is due to release its results for the half-year to end February later, and is expected to report a return to profit.
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