JSE up 0.51% after news of Greek debt deal being reached
The JSE was firmer on Monday after reports that a deal between eurozone creditors and Greece has been struck‚ whereby Greek will receive a third debt bailout and remain in the eurozone.
The JSE took its cue from European markets which firmed on the news and also Asian markets that are bouncing back after recent massive sell-offs.
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The German Dax 30 gained 1.13% and the Paris CAC firmed 1.42%.
A recovery in Chinese markets saw the Shanghai Composite gaining 2.39%‚ after Chinese June exports and imports numbers were better than market expectations.
The Hong Kong Hang Seng index added 1.19% and the Japanese Nikkei 225 closed 1.57% firmer
At 9.37am‚ the JSE all share was 0.51% firmer at 52‚065.20 and the blue chip top 40 added 0.57%.
Banks gained 1.03%‚ while gold miners retreated 1.08% amid risk-on trade. Resources gave back 0.69% as commodity prices fell.
Barclays Research analysts said in a global note before the news of the Greek debt deal that difficult Greek negotiations had left markets on edge.
This week brings important information beyond the Greek and Chinese sagas. In the US‚ Federal Reserve Chair Janet Yellen will give her semi-annual testimony to Congress and the US starts its earnings season on Wednesday‚ Barclays said.
Among individual shares on the JSE‚ Anglo American PLC dipped 0.31% to R165.49 and rival BHP Billiton Plc was down 0.91% at R234.60. ArcelorMittal was off 2.35% at R11.65.
GoldFields slid 1.34% to R37.52 and Harmony shed 3.65% to R13.72.
Anglo American Platinum gained 2.76% to R256.89 after announcing on Monday that it sees its first-half headline earnings per share at R9.40c-R9.50c versus 60c previously.
In the banking space‚ RMB Holdings gained 1.39% to R67.60 and Firstrand lifted 1.37% to R54.09.
Transport and logistics group Super Group added 1.34% to R32.50 after announcing on Monday that it has acquired a 75% interest in Germany-based IN tIME Holding GmbH for R2.1bn.
Anchor Group was up 1.85% at R11.00 after announcing on Monday that it sees first-half adjusted headline earnings per share being 38%-58% higher. - BDlive