The JSE was firmer on Wednesday, along with its global counterparts as the recovery following Monday's sell-off gathers momentum.
There is no panic yet, but investors are concerned about the possibility of further lockdowns and the resurgence of the coronavirus, especially in Europe, said AxiCorp market analyst Milan Cutkovic.
“The latest warnings following a sharp increase in the number of new Covid-19 infections are a cold shower for an overheated market and a reminder to market participants that we are still in the middle of a global pandemic,” Cutkovic said.
At 9.51am, the JSE all share had firmed 0.56% to 53,561.67 points and the top 40 was up 0.78%. The gold mining index had lost 2.58%, platinum miners 0.98%, banks 0.45%, financials 0.35 and resources 0.34%. Industrials had gained 1.66%.
Earlier, the Shanghai Composite gained 0.17%, while Hong Kong’s Hang Seng and Japan’s Nikkei 225 were flat.
In Europe, the FTSE 100 gained 1.9%, Germany’s DAX 30 1.33% and France’s CAC 40 1.36%.
Gold had lost 1.03% to $1,880.2/oz and platinum 0.69% to $860.06. Brent crude was down 0.1% to $41.72 a barrel.
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