The JSE was stronger on Thursday, in line with global markets, following positive news in the search for a Covid-19 vaccine, while investors await US jobs data later in the day.
Global equities rallied on Thursday after US pharmaceutical giant Pfizer, working with German BioNTech, said an experimental vaccine trial on humans showed encouraging results. This comes as investors worry that the spread of Covid-19 could lead to more lockdown measures, further delaying economic recovery.
“Investors seem to be focusing on the half-full portion of the glass and not the other way round,” said FXTM chief market strategist Hussein Sayed.
At 11.15am, the JSE all share was up 1.63% to 54, 665.04 points and the top 40 1.64.%. Banks added 2.57% and financials 2.39%.
Earlier, the Shanghai Composite was up 2.13%, Hong Kong’s Hang Seng 2.85% and Japan’s Nikkei 225 0.11%.
In Europe, the FTSE 100 added 0.89% France’s CAC 40 1.62% and Germany’s DAX 30 1.95%.
Global markets are awaiting US non-farm payrolls for June later in the day amid expectations of a rebound in US jobs as lockdowns eased.
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