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MARKET WRAP: JSE, rand and bonds all smiles after Godongwana’s budget

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Finance minister’s commitment to fiscal consolidation heartens investors, though the economy remains at risk

The rand broke a two-day losing streak on Thursday as investors welcomed the medium term budget policy statement , staging a mild recovery after falling the most in more than eight months in the previous session.

The JSE and local bonds were also heartened by the statement, with the all share closing the day 1.25% higher at 69,131.56 points, while the top 40 gained 1.37%...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 Sunday Times Daily.

 

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