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MARKET WRAP: JSE recovers a little after dismal week

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The local bourse snapped a five-session losing streak on Friday, but weakened for the third week in a row amid US-China trade war concern

The JSE pushed a little higher on Friday, lifted by improved sentiment on global markets, although overall it was a poor week for the local bourse.

Negative global sentiment overwhelmed positive local developments, including promises by the ANC of a small, accountable cabinet, as well as a signal from the Reserve Bank that its next move could be a cut. The all share closed 0.28% higher at 54,423.6 points and the top 40 0.28%. Gold miners lost 2.76% and platinums 1.04%. Banks added 0.41%.

Massmart fell 2.77% to R65.87. It said on Thursday group headline earnings may be at least 50% lower in the six-months to end June compared to the prior period.

 

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