The Jse All-share index is trading 2.34% firmer in trade today as global markets continue to rebound from the recent correction experienced. News that the Bank of Japan had unexpectedly increased stimulus measures within the region providing the positive catalyst for today.
Industrial counters are leading the days gains having added 2.52%, followed by financials which have added 2.2% while the resource index posts a more modest gain of 0.84%.
In Company News, AdvTech Limited released a cautionary announcement in which the company has guided that it is in negotiations to acquire the ownership of schools in the pre-primary, primary and high school segment, which if succesfully concluded could have a material affect on the company’s share price.
In currencies the rand is trading at R10.88 to the dollar, R13.69 to the Euro and R17.41 to the British Pound. In commodities, Gold is trading at $1174/oz, Platinum at $1231.4/oz and Brent Crude at $85.26/ Barrel. There is no local economic data scheduled for today.
In Europe German retail sales (m/m) contracted by 3.2%, where the consensus of estimates had predicted a 0.8% month-on-month contraction.French Consumer spending (m/m) came in at -0.8%, which was worse than expected (consensus -0.3%).
European CPI Flash Estimate data alluded to a 0.4% increase in inflation annualised.
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