The JSE opened to mixed Asian markets as rising concerns that the US Federal Reserve will continue its interest rate hikes coupled with a rise in covid-19 cases in China and a strain on its bond market left investors in a cautious mood.
The JSE managed to close in the green ahead of the weekend adding 0.58% with the All Share Index ending at 72,577 points.
In company news, Southern Sun stocks shares jumped 3.04% after the leisure and hotel group flagged a revenue jump of more than double for the half-year to end September while the group also returned to profit.
The easing of covid-19 restrictions helped to get the group back into profit and it expects to report revenue of between R1.5 billion and R1.68 billion higher than the prior period’s R954 million.
Novus Holdings (1.06%) said its operating profits dived nearly three quarters in the six months to end September with the printer and manufacturer hit by excessive paper price increases due to global shortages as well as the effects of load-shedding.
In the currency market, the rand opened this morning trading flat at R17.37 versus the US dollar. The local unit has been on the front foot today and is currently trading at R17.29 against the greenback
