MARKET WRAP: JSE closes higher, as rand loses earlier gains

The JSE closed marginally higher on Tuesday, with banks and financials leading the gains.

Shortly after the JSE closed, the Dow was flat at 27,376.72 points after closing at a record high on Monday. In Europe, the FTSE 100 rose 0.6%, France’s CAC 40 0.71%, and Germany’s DAX 30 0.42%. “With an expectation of a rate cute on Thursday, we could see a knee-jerk weakening for the rand based on the yield-seeking behaviour of the market at the moment,” TreasuryONE senior currency dealer Andre Botha said in a note.

The JSE all share rose 0.9% to 58,052.70 points and the top 40 0.99%. Banks gained 1.81% and financials 1.28%.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE closes higher with Naspers leading gainsThe rand entered its fourth day of consecutive gains after reaching a five-month high against the dollar last week
Source: BDliveSA - 🏆 12. / 63 Read more »

Rand weakens as US retail data exceeds market expectationsRetail sales for June saw a 0.4% month-on-month rise, the same as in May, and twice as much as expected
Source: BDliveSA - 🏆 12. / 63 Read more »

Vodacom’s parent aims to topple 5G market leader in GermanyVodafone says it will offer cheaper deals and reach more cities than Deutsche Telekom
Source: BDliveSA - 🏆 12. / 63 Read more »