The JSE pared earlier losses in volatile trading on Thursday as investors appeared to shrug off the latest US inflation data, which came in higher than expected.
The all share fell more than 1% during the session in line with European markets after the US labor department published its inflation report for September, but reversed most of the losses — thanks mainly to banks, financials and industrial metals — to close 0.21% weaker at 64,392.43 points. The top 40 lost 0.37%...
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Business Maverick: Core US Inflation Rises to 40-Year High, Securing Big Fed HikeA closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation.
Source: dailymaverick - 🏆 3. / 84 Read more »
World: Global markets: Asian stocks weaken as Fed, BoE fuel uncertainty before US CPI dataAsian stocks followed Wall Street lower and bond yields remained depressed on Thursday as investors weighed the risks of global recession amid hawkish Federal Reserve rhetoric and uncertainty about the Bank of England's commitment to stabilising markets.
Source: dailymaverick - 🏆 3. / 84 Read more »