MARKET WRAP: Retailers 3% jump leads JSE above 58,000 points

The local bourse closes at its best level since September as the rand pushes past the psychologically-important R14/$ levelThe JSE pushed higher on Wednesday, closing above 58,000 points for the first time since September 2018, after banks and retailers posted strong gains and the rand pushed past R14/$.

On Wednesday, emerging-market currencies were boosted by expectations of dovish US Federal Reserve minutes, due later in the day. As the JSE closed the rand was 1.16% firmer at R13.9223/$, the best-performing emerging-market currency. Rand hedge Richemont added a marginal 0.05% to R97.92 after a 3.88% fall on Monday, when Credit Suisse said the share was overvalued, citing a need for the company to pour significant amounts of money into its businesses.FirstRand jumped 4.04% to R66.94 and Nedbank 4.55% to R266.62.

Sacci said there are some positive short-term, business-climate indicators, due in part to the government’s efforts to grow the economy, but this does not overshadow the challenges faced in terms of increases in the prices of fuel and electricity, and load-shedding.A summit at which EU leaders will consider a request to delay Brexit until June 30 is set to begin at 7pm SA time.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

MARKET WRAP: JSE weakens amid US-China trade talksGlobal markets are mixed while locally retailers fare worst
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »

MARKET WRAP: JSE edges higher led by minersRising commodity prices and a slightly weaker rand boosted local miners, but global trade was somewhat subdued ahead of risk events this week
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »

MARKET WRAP: JSE slips ahead of busy WednesdayA series of events will give markets direction on Wednesday, including an ECB policy announcement and a crucial EU Brexit summit
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »

MARKET WRAP: JSE pushes higher, led by platinumsBoth global and local events were positive for the local bourse this week, with the all share only closing lower on Thursday
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »

Business Maverick: Stocks Post Longest Rally of Year; Dollar Gains: Markets WrapU.S. stocks rose for a sixth consecutive day and the dollar strengthened as investors remained bullish about U.S.-China trade negotiations and key jobs data tomorrow in Washington. info well noted daily maverick
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »

JSE pulls back slightly as market eyes US-Sino trade talksPresident Donald Trump is meeting with Chinese leaders later on Thursday, amid speculation a deal is imminent
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »