The JSE was little changed on Wednesday, with its global peers mixed as rising global Covid-19 cases threaten sentiment, while the market awaits fresh news.
A Reuters analysis showed that Covid-19 cases in the US more than doubled in 14 US states in June, raising fear that the surge in the numbers could lead to lockdowns, delaying global economic recovery.
“As no end to the Covid-19 pandemic is in sight, and no-one knows how the second wave might look, further mood swings and increased volatility should be expected,” AxiCorp market analyst Milan Cutkovic said.
“Investors who are counting on a smooth ride in the second half of the year are likely to be disappointed,” Cutkovic.
At 11.49am, the JSE all share and top 40 indices were little changed, with the JSE all share at 54,403.99 points. The gold mining index had gained 2.8%, platinum miners 0.47%, resources 0.41%, financials 0.59% and banks 0.23%. Industrials had lost 0.4%.
The gold mining index had firmed 2.24%, platinum miners 2.12% and resources 0.29%.
Earlier, the Shanghai Composite had gained 1.38% and the Hang Seng 0.52%, while Japan’s Nikkei 225 lost 0.75%.
In Europe, the FTSE 100 was down 0.53%, while Germany’s Dax 30 was up 0.66%. France’s CAC 40 was little changed.
Gold had gained 0.35% to $1,786.81/oz, while platinum had lost 1.13% to $819.21/oz. Brent crude had gained 1.73% to $42.32 a barrel.
Locally, vehicle sales numbers for June and Absa’s purchasing managers index (PMI) for the same month are scheduled for release later on Wednesday.
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