MARKET WRAP: JSE has best day in four months as global efforts help ease banking turmoil

The JSE had its best day in more than four months on Monday, supported by strong gains in metals, with global markets firmer as investors welcomed the latest efforts by governments in the US and Europe to ease a crisis threatening the global banking sector.

Swiss-based UBS, agreed at the weekend to buy Credit Suisse as part of a cut-price deal in an effort to stem the risk of contagion to the global banking system. Swiss authorities and regulators helped to facilitate the deal, Bloomberg reported...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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GUEST ESSAY: Global financial market convulsions, especially in banking – ‘The hurricane siren is blaring’As I write this, convulsions in world financial markets continue, particularly in the banking sector. Silicon Valley Bank, Silvergate, Signature, First Republic Bank of California and the once-staid 166-year-old Credit Suisse. All dead or dying or saved by rich daddies. Trouble elsewhere too – hundreds of small to medium banks are under stress and their depositors skittish.
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