Johannesburg – The JSE edged up on Friday morning‚ led by banking and financial stocks‚ in what is expected to be a quiet session ahead of the long weekend.
At 9:47‚ the All Share [JSE:J203] index was up 0.23% to 38 765.77 points‚ still in record high territory‚ with the Top 40 - (Tradeable) [JSE:J200] index nudging up 0.24% to 34 368.29. Banks gained 0.43%.
“There is sustained interest‚ particularly by foreign investors‚ into retail‚ property and industrial stocks which look expensive from a valuation viewpoint‚” said Drikus Combrinck‚ portfolio manager at PSG Konsult.
RMB analysts said in a note that global growth would probably continue to bumble along as it has for the past three years. “Our core view is pretty much at consensus: US at 2%‚ China at 8%‚ Europe at 0%. The question of Greece’s future in the eurozone will arguable remain the tail risks to the global economy.”
Leading Asian shares were mixed‚ with Japan’s Nikkei 225 ending flat.
Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.