The JSE closed at a six-month high on optimism on global markets, with local banks faring best after Moody’s opted not to release a report on SA
The JSE pushed higher in broad-based gains on Monday, tracking gains in global markets.
As the JSE closed, the rand had gained 1.27% to R14.1609/$ and 1.42% at R15.8927/€. This benefited banks, who often gain on a firmer rand. The banking index had its best day in four months. Absa said the period saw a deterioration in exports, while local business conditions also remained poor. JSE gains were largely due to a strong showing by local miners as well as Naspers, while locally focused shares continued to be under pressure from poor domestic economic conditions, load-shedding, and policy uncertainty, said Lester Davids, a trading desk analyst at Unum Capital.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE posts broad-based gains, led by banksRand hedges and diversified miners fared well, while banks gained despite a 1% fall in the rand
Read more »
MARKET WRAP: JSE led higher by rand hedges and diversified minersGlobal sentiment improved a little after Monday’s sell-off, supporting both the dollar and the oil price
Read more »
MARKET WRAP: JSE and rand rally ahead of Moody’s decisionJSE heavyweight Naspers was 0.85% higher at R3,332.14 after reaching its best level in about seven months earlier in the day
Read more »
MARKET WRAP: JSE and rand rally ahead of Moody’s decisionJSE heavyweight Naspers was 0.85% higher at R3,332.14 after reaching its best level in about seven months earlier in the day
Read more »
MARKET WRAP: JSE lower as precious-metal miners plungeGold and platinum miners fall amid sharp sell-off in precious metals, but a strong showing from Capitec and rand hedges offset this a little
Read more »
WATCH: How NewCo will affect Naspers’s listing abroadOanda market analyst Ed Moya talks to Business Day TV about market heavyweight Naspers’s plans
Read more »
JSE suffers second worst daily loss for 2019Global equity markets experience a second day of sharp losses, as concerns mount over the state of the global economy
Read more »
JSE lifts a little after rand’s recoveryFears over cooling global growth have abated somewhat, with the rand holding on to overnight gains, to the benefit of banks and retailers
Read more »
JSE not worried about Naspers eyeing greener pasturesThe company plans to list its non-South African internet businesses in Amsterdam
Read more »
JSE could struggle for direction as Asian markets edge higherConcerns of slowing global economy has led to the bourse extending losses to a third-consecutive session on Monday
Read more »