MARKET WRAP: JSE caps best week since June on global optimism over trade

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The rand has moved to comfortably below the R15/$ level, last trading at R14.74, in its best week since early September

The JSE snapped a three-week losing streak on Friday, as global markets leapt on the news that talks between the US and China over their trade impasse are progressing well.

The rand also enjoyed good gains on Friday, trading more than 2% firmer at R14.7498/$ by 5.35pm. It had also strengthened 1.55% to R16.3102/€ but was flat at R18.7182/£. Gains against the pound were muted as the latter firmed against most other currencies on news that British Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar were making progress towards a potential “pathway” to avoid a no-deal Brexit.

The JSE all share rose 0.84% on Friday and the top 40 0.76%. Banks led the way, up 2.54%, with financials adding 2.33%. The gold index slumped 5.13%. Resources added 0.75% with the larger diversified miners performing best. Peregrine Holdings was down 1.23% to R16.87. The company said earlier that it expects its headline earnings per share to decrease between 35% and 45%, to between 45.1c and 57.9c, in the six months to end-September.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

After a lonely journey, Diseko enters the nickel market at the right timeFounder and CEO of Thakadu Group tap into a market worth more than R1.6-trillion
Source: BDliveSA - 🏆 12. / 63 Read more »

WATCH | Is Africa a neglected market?SPONSORED | A panel of insurance experts focus on insurance in Africa
Source: BDliveSA - 🏆 12. / 63 Read more »

Rand firms on improved sentiment, stocks downThe rand firmed on Wednesday as global market sentiment improved, with investors hopeful that a trade agreement can be reached between United States and China.
Source: ewnupdates - 🏆 30. / 53 Read more »