MARKET WRAP: Ramaphosa relief rally lifts stocks and the rand

Markets celebrated the win by President Cyril Ramaphosa at the ANC conference, with banks and financials the main contributors to the JSE’s gains, while the rand also firmed in response.

The all share index closed 0.51% up at 73,359 points on Monday, while the top 40 index advanced 0.55%. Banks gained the most in nearly seven months, up 4.08% while financials added 3.36%...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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International Finance: Asia stocks set to fall with focus on rates path: markets wrapAsian stocks were poised to follow Wall Street lower on Monday as the Federal Reserve’s resolve to keep raising rates and a wave of Covid in Beijing damped sentiment for riskier assets.
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Business Maverick: US Stocks Drop as Traders Mull Rate-Hike Path: Markets WrapUS stocks dropped as traders mulled the Federal Reserve’s path next year after central bank officials vowed to keep raising rates until they’re confident inflation has been subdued.
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