The JSE was firmer on Wednesday morning, with global peers mixed as investors awaited the outcome of the US Federal Reserve’s (Fed’s) policy meeting later on Wednesday.
The Fed will complete its two-day federal open market committee (FOMC) later, with markets expecting for the policymakers to keep interest rates unchanged.
However, investors will be paying close attention to the central bank’s guidance for the future direction of interest rates.
“All eyes will be on the Fed [on Wednesday]. While no rate cut is expected, investors will pay close attention to the Fed’s economic overview, and possible guidance on interest rate cuts in the future,” said Citadel Global director Bianca Botes.
“The FOMC meeting this evening is likely to provide fresh impetus for markets.”
At 10.35, the JSE all share had gained 0.15% to 71,973 points and the top 40 was up 0.18%. Banks had added 0.6%, resources 0.48%, precious metals 0.43%, industrial metals 0.38%, food producers 0.34% and financials 0.23%.
At the same time in Europe, France’s CAC 40 was down 0.86%, while Germany’s DAX was little changed.
Earlier in Asia, the Shanghai Composite added 0.55%, Hong Kong’s Hang Seng 0.17% and Japan’s Nikkei 0.66%.
At 10.44am, the rand had weakened 0.2% to R18.9466/$, 0.1% to R20.5653/€ and 0.15% to R24.0576/£. The euro was 0.1% weaker at $1.0853.
Gold was little changed at $2,155.27/oz, while platinum gained 0.13% to $895.63/oz. Brent crude was unchanged at $86.63 a barrel.
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