The JSE was firmer on Friday morning, with global markets mixed as investors assessed tech earnings and awaited key US jobs data.
Initial concerns over Meta and Microsoft’s disappointing reports — with Meta’s user growth falling short of expectations and Microsoft’s revenue guidance leaving investors underwhelmed — were alleviated by Amazon’s strong cloud and advertising results, which helped lift sentiment overnight.
Market focus now shifts to the crucial US nonfarm payrolls (NFP) report, scheduled for release later today. Economists predict a modest 100,000-job increase in October, the smallest gain since 2020, while the unemployment rate is expected to remain steady at 4.1%.
“Investors are cautiously awaiting the NFP data, which will be pivotal for next steps in Federal Reserve policy,” TreasuryOne currency strategist Andre Cilliers said.
At 10.50am, the JSE all share had gained 0.56% to 85,862.30 points and the top 40 was up 0.58%. Resources had added 1.28%, industrial metals 1.08%, precious metals 1.07%, industrials 0.57%, food producers 0.39%, banks 0.28% and financials 0.15%.
Retailers had lost 0.2%.
At the same time in Europe, the FTSE 100 was up 0.46%, France’s CAC 40 0.47% and Germany’s DAX 0.36%.
Earlier in Asia, the Shanghai Composite lost 0.24% and Japan’s Nikkei 2.63%. Hong Kong’s Hang Seng added 0.93%.
At 10.39am, the rand had weakened 0.46% to R17.6494/$, 0.26% to R19.1654/€ and 0.45% to R22.7697/£. The euro was 0.2% weaker at $1.086.
In the commodities markets, gold lost 0.4% to $2,754.35/oz and platinum 0.32% to $994.6/oz. Brent crude was 1.13% firmer at $74.80 a barrel.
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