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MARKET WRAP: JSE pushes higher for fifth month in a row

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As the JSE closed, the rand was 0.18% weaker at R14.3512/$.

The all share fell 0.23% to 58,528.4 points and the top 40 0.21%. Platinums fell 2.23% and industrials 0.19%. General retailers added 0.71%.

The JSE has been given a boost so far in 2019 by both a dovish turn by the US Federal Reserve, and by economic data showing that the global economy isn’t slowing as fast as feared. Although local economic growth is muted, it is worth noting that the JSE does not fully reflect the SA economy, with more than half of revenue generated overseas, said Old Mutual multi-managers strategists Dave Mohr and Izak Odendaal.

US non-farm payrolls numbers are due on Friday. Volatility in local markets could pick up ahead of next week Wednesday’s national elections.

 

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