Upbeat global sentiment continues to lift the JSE

Tokyo stocks open higher

Asia markets up after strong Wall St lead

JSE breaks losing streak

JSE weaker as rand retraces

JSE closes softer as global markets remain tentative

Wall Street ends banner January as growth worries dog European stocks

 

The JSE advanced on Wednesday as global markets remained
upbeat on the back of a corporate earnings releases out of the US.

A number of US listed blue chip stocks have released their
earnings results which have mostly come in better than expected.

This was evident overnight as BP’s profits beat estimates
which resulted in gains in the US on Tuesday and on the FTSE in London. General
Electric also reported better than expected revenue numbers on Wednesday which
provided further impetus for gains in US indices as there was little sentiment
from Asia due to the closure of markets for the Lunar new year.

Locally, there was an economic data release as the January
reading of SACCI Business Confidence number was released. The number improved
from a prior recording of 94.6 to 95.1.

READ: SA business confidence stable for January – Sacci

On the currency market, the rand weakened against the US
dollar as the latter advanced significantly in overnight trade against a basket
of major currencies. The rand slipped to a session low of R13.51/$ before being
recorded at R13.50/$ at 17:00.

On the JSE, Cartrack Holdings [JSE:CTK] had a stellar day as
the stock managed to rally 11.54% to close at R14.50, while Harmony Gold
[JSE:HAR] also advanced significantly to close at R28.99 after it gained 7.05%.

Accelerate Property Fund [JSE:APF] climbed 3.9% to end the
day at R4.00, while RDI REIT [JSE:RPL] added 5.32% to close at R29.49. Brait
[JSE:BAT] added 3.23% to close at R29.42, Aspen Pharmacare [JSE:APN] gained 2.37%
to R146.90, and Naspers [JSE:NPN] closed 1.86% higher at R3091.77.

Sappi [JSE:SAP] came under significant pressure despite
reporting a marginal increase in profit and earnings per share in its quarterly
results. The share fell 5.1% to close at R75.73.

Gold Fields [JSE:GFI] also traded under pressure following
the release of it trading statement for the full year ended 2018. The miner
retreated 1.59% to close at R49.59. Ascendis Health [JSE:ASC] lost 0.76% to
close at R5.21, while its sector peer, Life Healthcare [JSE:LHC] dropped 2.62%
to close at R26.43.

Vodacom [JSE:VOD] traded softer eventually closing the day 1.68%
weaker at R116.16, while Mr Price [JSE:MRP] closed at R213.46 after shedding 1.55%.

The JSE Top-40 index managed to close the day 0.57% firmer,
while the JSE All-Share index added 0.59%. The resources index barely closed
firmer after adding 0.23%. The industrials and financials indices gained 0.9%
and 0.61% respectively.

At 17:00, gold was down 0.22% to trade at $1312.44/Oz, palladium
was 0.24% weaker at $1379.00/Oz, and platinum had lost 1.08% to trade at
$809.97/Oz.

Brent crude traded mostly softer on the day as it fell to a
session low of $61.05/barrel. It was trading at $61.82/barrel just after the
JSE close.

At 17:00, Bitcoin was down 1.58% to trade at $3445.90/coin
while Ethereum was 3.44% weaker at $104.31/coin.

JSE winners and losers, February 6.

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