The JSE had a fairly dull reopening from the Christmas break, with the All Share pulling back close to a third of a percent as industrial shares came under pressure, including large caps Naspers and Prosus.

In the US it was another story, with all three major indices opening at record highs after President Donald Trump signed a massive stimulus package into law. News of the trade agreement struck between the UK and the European Union on Christmas Eve also supported global markets.

In a quiet day for the local market, Exxaro Resources said a deal to sell its stake in Black Mountain Mining to the Industrial Development Corporation had fallen through after the IDC reprioritised its spending due to the current tough economic climate. Meanwhile, Grindrod reached a deal to sell its stake in agri company Senwes and Attacq reduced its holding in MAS Real Estate in a transaction that will help it reduce its debt.

The latest edition of Today's Trustee examines the dilemma faced by retirement fund trustees when it comes to balancing investments in offshore assets versus ploughing members' savings into domestic infrastructure projects that could prop up the local economy.

Finally, in The Week Ahead, Chris Gilmour provides more details about the Bexit trade deal and other recent market-moving news.

Have a good day.

Stephen Gunnion

Managing Editor, InceConnect