The Johannesburg Stock Exchange (JSE) closed firmer on Tuesday as signs of reconciliation between the United States and China over trade issues lifted sentiment on the local bourse.
The U.S. dollar’s recent rally continued on Tuesday, buoyed by an announcement that U.S. and Chinese officials had agreed to suspend various tariffs, as they continue to renegotiate terms of trade.
The local unit held onto gains of about 1 percent against major global currencies on Tuesday, buoyed by generally positive global sentiment, but ahead of risk-events beginning on Wednesday.
Statics South Africa is expected to release consumer inflation data for March on Wednesday, while on Thursday the Reserve Bank will announce its latest monetary-policy stance.
The all share closed 0.52 percent up at 58121.84 points and the top 40 gained 0.56 percent. financials 1.23 percent. Resources lost 0.43 percent, the platinum index 0.86 percent, and general retailers added 1.14 percent. Food and drug retailers added 1.31 percent, industrials 0.66 percent, and banks 1.85 percent.
Anglo American lost 0.43 percent to R324.91.
Pioneer Foods dropped 1.01 percent to R104.36 after it reported interim headline earnings to end-March rose 30 percent to R592m, from an expected 22-32 percent.
Capitec gained 1.5 percent to R856.29, as it shrugged off yet another damning Viceroy Research report.
Steinhoff International dropped 6.11 percent to R1.69 as the market digest the outcome of Friday’s presentation to lenders in London.
Steinhoff Africa Retail dropped 2.79 percent to R17.10.
Naspers closed 0.47 percent up at R3,195.
Gold was 0.09 percent lower at 1,291.62 dollars an ounce while platinum was up 1.08 percent to 908.22 dollars. Enditem