The JSE finished lower on Friday after a wild session during which the all share index rose as much as 1% before pulling back in line with other world markets.
“We have seen markets struggling to digest the short speech by Powell,” with the rand trading quite wildly in a 10-cent range after he spoke. The rest of the market held up reasonably well on the day, with Nedbank gaining 4% to R224.27 to outperform its peers. Insurance stocks staged a comeback after a wobble on Thursday in the wake of the news that they were being investigated by the Competition Commission for allegedly fixing prices of insurance products.
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