MARKET WRAP: JSE closes slightly firmer in cautious, quiet trade

The JSE was a little firmer on Monday in fairly quiet trade as investors adopt a cautious approach amid growing geopolitical uncertainty, which continues to weigh on the world’s financial markets.

Telkom closed 4.09% higher at R90, after earlier reaching an intra-day high of R98.20. The jump came after it reported improved results for the year ended March, which included a 5.3% rise in operating revenue to R41.8bn. Among gold miners, Sibanye fell 1.91% to R11.27, Gold Fields 0.93% to R54.48 and AngloGold Ashanti 0.78% to R164.72.

The benchmark R186 government bond was firmer, with the yield dropping 4.5 basis points to 8.35%. Bond yields move inversely to bond prices.

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