The JSE was firmer on Tuesday morning, with its global peers mixed as rising Covid-19 cases and the surge in the Delta variant continued to spook investors.
The all share was on track to break a three-day losing streak after falling the most in more than a week on Monday when global equity markets plunged as concerns about the coronavirus mounted and China accused as the mastermind behind a series of cyberattacks against public and private entities.
Investors are concerned that the spread of the Delta variant will affect the resilience of the economic recovery.
“Despite significant progress in global vaccine programmes, Covid-19 remains a concern that is front of mind for many,” said RMB Siobhan Redford. “With data releases thin today, it would seem that concern over the continued spread of Covid-19 is likely to continue to dominate market sentiment and moves.”
At 10.10am, the JSE all share had gained 0.92% to 65,403.74 points and the top 40 0.97%. Resources added 1.65%, precious metals 1.13%, industrials 0.63%, and financials 0.58% and banks 0.57%.
Elsewhere, the FTSE 100 was up 0.92%, France’s CAC 40 was 1.03% firmer and Germany’s DAX gained 0.76%.
Earlier, the Shanghai Composite was flat, while Hong Kong’s Hang Seng fell 0.85% and Japan’s Nikkei 225 shed 0.96%.
At 10.14am, the rand was little changed at R14.5604/$, and R17.1688/€, while it had strengthened 0.14% to R19.8775/£. The euro was flat at $1.1790.
Gold was unchanged at $1,811.70/oz, while platinum gained 0.12% to $1,076.27. Brent crude lost 0.26% to $68.58 a barrel.
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