MARKET WRAP: Rand bulls still in charge after Ramaphosa’s win

The rand retained the stronger bias it has enjoyed this week while the JSE was lower in line with its global peers. A short-lived bounce for world stocks faded as fears resurfaced about an economic downturn.

“The market clearly believes that the Ramaphosa faction’s strong showing at the elective conference is constructive for SA, as the prospect of policy continuity and more reform progress has been welcomed,” Sasfin analysts said. The JSE all share index ended 0.83% lower at 73,225 points, while the top 40 shed 0.85%. The main drags on the equities market came from the industrial materials index, which shed 2.94%, and industrial metals and mining, which was 1.71% lower. The strong performers from Wednesday, the resources and precious metals and mining indices, were down 1.69% and 1.66%, respectively. Banks and financials shed 0.86% and 0.79%.

Rand's been doomed since Madiba's mug appeared on it

But it's still above 17

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: Rand off its best levels but expected to firm in early 2023Volatility is the order of the day as volumes thin out ahead of the holidays
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Rand holds on to gains while JSE gets a lift from precious metals stocksPlatinum miners buoyed by the stronger metals prices, while yen records its biggest one-day rise since 1998 and medium-term outlook for the rand remains bullish
Source: BDliveSA - 🏆 12. / 63 Read more »

International Finance: Stocks fluctuate after S&P 500 snaps losing streak: markets wrapAsian equity benchmarks fluctuated on Wednesday while US share futures climbed after the S&P 500 snapped a four-day losing streak, providing a moment of respite in one of the worst years for stocks and bonds in more than a decade.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: US Stocks Climb; Treasuries Drop After BOJ’s Move: Markets WrapUS stocks climbed as shares of major technology companies rose and investors parsed data that showed Federal Reserve tightening is hitting the economy. Treasuries dropped after a sudden hawkish move from the Bank of Japan sent the yen soaring and raised expectations it would join its peers elsewhere in boosting interest rates.
Source: dailymaverick - 🏆 3. / 84 Read more »