The JSE closed firmer on Wednesday with global markets mixed as investors await the full results from the US midterm elections.
Thus far, control over America’s legislative branch hangs in the balance and will come down to extremely tight congressional and senate races. US stocks opened lower amid the election uncertainty while markets were also dragged down after Disney fell nearly 8% in pre-market after the entertainment giant reported larger than expected losses at its Disney+ streaming operation.
Disney+ launched in South Africa earlier this year.
Back on the JSE, the All Share Index gained 0.91% to close at 69,640 points.
In the currency markets, the rand opened softer at R17.75 versus the dollar after the local unit firmed to R17.70 on Tuesday evening. The rand is currently trading at R17.76 against the greenback.
Bitcoin has slumped over 3% as the cryptocurrency space reels from yet another crisis after the near collapse of FTX.
Oil slipped lower as Chinese inflation data again surprised coming in on the downside, reflecting the economic weakness of the world’s largest oil importer.
“Sentiment was also hit by the American Petroleum Institute reporting a surprise 5.6-million-barrel build in crude stocks last week,” reports Investing.com.
