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MARKET WRAP: JSE snaps three-day winning streak ahead of Moody’s review

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Sverige Nyheter Nyheter

The local bourse fell along with European and US markets on the day as Covid-19 continues to cast a shadow over global markets

The JSE ended a run of three consecutive gains on Friday as investors waited so see whether SA would lose its last remaining investment-grade credit rating.

Local trading finished before a widely anticipated review by Moody’s Investors Service, which is expected after US markets close, with speculation that it might come any time between 10pm and 2am locally. A downgrade by the agency could see billions of rand being pulled from SA markets as the country’s bonds fall out of key indices used by foreign investors for benchmarking purposes.

 

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