JSE may follow firmer Asian bourses on Monday

Image: JSE

The JSE may take its lead from firmer Asian markets on Monday morning, while locally load-shedding is set to continue.

Asian markets seem to be following Wall Street, which benefited on Friday from Covid-19 vaccine hopes, said Oanda analyst Jeffrey Halley in a note.

Locally, news is less positive, with President Cyril Ramaphosa announcing the introduction of a 4am to 9pm curfew and the banning of liquor sales to contain Covid-19.

Load-shedding is also expected to continue this week.

In morning trade on Monday the Shanghai Composite was up 1.27% and the Nikkei 1.92%. Tencent, which gives direction to the JSE through Naspers, had firmed 0.27%.

Gold was up 0.3% to $1,803.30 an ounce while platinum had risen 1.77% to R837.60. Brent crude was 0.67% lower at $42.50 a barrel.

The rand was 0.2% firmer at R16.73 a dollar.

There is little on the local corporate economic calendar on Monday, with inflation and mining data due later this week.

Global focus is on corporate earnings reports and Covid-19 numbers.

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