Local banks and retailers are benefiting from a firmer rand, with global markets pushing higher amid signs of progress in the US-China trade talks
Reports that the US and China are close to ending their year-old trade conflict buoyed global risk assets on Monday morning, with the JSE pushing higher, led by market heavyweight Naspers.The all share gained 0.61% to 56,545.9 points and the top 40 rose 0.32%. Industrials gained 1.41% and food and drug retailers 0.95%. Gold miners fell 2.84%.
Reports on Sunday suggested the US and China had both made the concessions required to ink a new trade deal, which could take place during a meeting later in March between US President Donald Trump and Chinese President Xi Jinping.Local miners were under some pressure, however. Local gold miners are facing the prospect of a strike by the Association of Mineworkers and Construction Union , which could begin in the coming days.
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