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MARKET WRAP: JSE edges higher but European prices keep investors on edge

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Inflation in the euro area surged 8.1% in May — the highest annual level since the creation of the single currency in 1999

The JSE closed slightly firmer on Tuesday as the easing of lockdown restrictions in China was offset by concern about record inflation in the EU.

News that Shanghai, China’s economic centre, has eased Covid-19 curbs after a two-month lockdown initially lifted sentiment. However, the ECB later reported that prices in the euro area surged 8.1% in May — the highest annual level since the creation of the single currency in 1999 — fuelled by sharply higher energy costs...

 

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