JSE could benefit from vaccine hopes on Tuesday

Image: 123RF/ SOLARSEVEN

The JSE may benefit on Tuesday morning from a surging Tencent and higher Asian markets, amid hopes of a Covid-19 vaccine.

Pfizer and BioNtech announced positive results from their Covid-19 vaccine trial in Germany, which added to the promising results reported earlier this month, National Australia Bank analyst Rodrigo Catril said in a note.

Market sentiment has also been boosted by news that European leaders are edging towards an agreement on the EU recovery fund, Catril said.

In morning trade, Tencent surged 6% and could influence the direction of Naspers, its largest shareholder.

The Australian All Ordinaries index was up 2.1%, while the Hang Seng rose 1.88%.

Gold was flat at $1,818.47/oz, while platinum fell 0.15% to $846.89. Brent crude was 0.35% higher at $43.45 a barrel.

The rand was 0.13% firmer at R16.60/$.

Locally the corporate and economic calendar is bare, while global focus remains on Covid-19.


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