JSE may start on a positive note ahead of repo rate announcement
Global markets are breathing more easily as Evergrande concerns abate and the US signals it is sticking with stimulus
Karl GernetzkyPicture: 123RF/DANIIL PESHKOVThe 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. headtopics.com
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.
In morning trade, the Hang Seng was up 0.69% and the Shanghai Composite 0.58%.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 $76.38 a barrel.
The rand was 0.13% firmer at R14.79/$, having risen by a similar amount on Wednesday. Read more: Business Day »
eNCA Entrepreneurship Friday | 22 October 2021
eNCA's Rofhiwa Madzena speaks to Tshepiso Sibisi founder of Mwari Pizza House.
Words alone won’t express how thankful I’m recommending you all to you shantelll_142 .....,investing with you has been a good opportunity for me and my family I just received my profit of R60,000 within five days of investment shantelll_142 I'm happy to join those who are sharing the good news about shantelll_142 . I'm not persuading anyone to trade with her but i advise every investor to make the right choice with shantelll_142 i got my withdrawal safely without any interruption.
Until the whole world get to know how good and generous she's I won't stop saying this cause my life has taken another greatly shape financially, LindaStouffes
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
OECD lowers global, US economic growth forecastsThe OECD warned Tuesday of an 'uneven' global economic recovery as it lowered its 2021 growth forecasts for the world and the United States while raising the outlook for Europe.
JSE may start on a positive note ahead of repo rate announcementGlobal markets are breathing more easily as Evergrande concerns abate and the US signals it is sticking with stimulus Until the whole world get to know how good and generous she's I won't stop saying this cause my life has taken another greatly shape financially, LindaStouffes
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
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
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