IG Markets: Midday market update, 8 April
The JSE all-share index is trading 0.2% firmer today as a weakening dollar, post Friday's jobs report, sees commodity prices trading higher and in turn resource counters leading the morning's gains.
The resource index has added 1.36%, the industrial index 0.07%, while the financials index is 0.4% lower.
In company news, Discovery has announced a strategic partnership with John Hancock, which will see the introduction of a comprehensive healthy living program for U.S. consumers.
John Hancock, a division of the global financial services group Manulife, is one of the largest life insurers in the United States.
The Rand is trading at R11.83 to the Dollar, R12.84 to the Euro and R17.62 to the British Pound. In commodities, Gold is trading at $1,210/oz., Platinum at $1,175/oz. and Brent Crude at $58.2/oz.
On the economic front, German factory orders contracted 0.9% m/m, which was significantly short of analyst expectations that forecast m/m growth of 1.5%.
In the U.S., crude oil inventories data is scheduled for release at 4:30pm while at 8pm, minutes from the recent FOMC meeting are scheduled for release.