The JSE could benefit from positive sentiment in global markets on Thursday, with markets welcoming an easing of concerns over Chinese property giant Evergrande, and digesting the US Federal Reserve’s latest policy announcement.
An agreement between Evergrande and its bond holders for payments due on Thursday has helped allay concerns that a collapse is imminent, which would have spillover effects for the rest of the market. China’s central bank has also injected liquidity into the market, reducing contagion fears. The Fed on Wednesday indicated it was in no rush to pare back monetary support, with Covid-19 still the biggest factor for the economic trajectory of the world’s largest economy. This has pushed back expectations of a firm policy announcement in November, analysts said.
The Reserve Bank is due to announce its latest policy stance later on Thursday, with consensus that the repo rate will be left unchanged at 3.5%. Analysts have pointed to inflation hovering around the 4.5% midpoint of the Bank’s target band as a reason interest rate increases should be expected only in 2022, given policymakers would also want to support SA’s economic recovery.Tencent, which gives direction to the JSE via Naspers, had risen 1.56%.
Gold was 0.18% lower at $1,764.60/oz, while platinum was flat at $994.79. Brent crude was 0.71% higher at $76.38 a barrel.Restaurant group Spur is due to release its results for the year ending June later on Thursday, having said in a recent trading update it has seen a steady recovery, though profits remain under pressure. Group revenue picked up 1%, but comparable headline earnings per share is expected to fall as much as 20%.
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JSE lifts before release of US Fed minutesAnalysts will also be on the lookout for details that could reveal growing internal pressure to raise interest rates in 2022 Words alone can't express how thankful I'm LindaStouffes investing with you has been a good opportunity for me and my family I just received my profit within seven days of investment. Until the whole world get to know how good and generous she is I won't stop saying this because my life has taken another great shape financially, LindaStouffes
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JSE claws back after Monday’s sell offThat was primarily driven by concerns about Evergrande, the Chinese property development firm with a liquidity crisis My first experience happens to be a failure but i never gave up cause i knew it was going to work out for me trying continuously, fortunately i'm smiling today by getting involved with peterniecy
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MARKET WRAP: JSE firms as Fed prepares minutesChina Evergrande statement on debt payment bolsters sentiment but analysts caution the relief may be temporary ᴍʏ sᴜᴄᴄᴇss ɪɴ ᴛʜᴇ ᴏᴘᴛɪᴏɴ ᴍᴀʀᴋᴇᴛ ᴡᴀsɴ'ᴛ ᴘʟᴀɴɴᴇᴅ, ʙᴜᴛ ᴛᴏᴅᴀʏ ɪ'ᴍ ᴀ ᴛʀᴜᴇ ᴅᴇғɪɴɪᴛɪᴏɴ ᴏғ ɢʀᴀᴄᴇ,, ʜᴀs ɴᴇᴠᴇʀ ғᴀɪʟᴇᴅ ᴍᴇ, ʏᴏᴜ ᴄᴀɴ ғᴇᴇʟ ғʀᴇᴇ ᴛᴏ ᴄᴏɴᴛᴀᴄᴛ LindaStouffes
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MARKET WRAP: JSE claws its way back from Monday’s routReassurances from beleaguered China Evergrande offer some relief but analysts point to other negative factors
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R1bn and counting: SA cops deal major blow to global drug cartelsIn the past four months, South African police, working with international law enforcement agencies, have dealt a blow to international drug cartels that have used the country as a springboard for the lucrative global trade in cocaine and heroin. This country will be Colombia or Brazil They are so invested in destroying our country yhooo 💔 😳
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