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MARKET WRAP: JSE closes at best level since February amid positive global data

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Whether rand returns to its former glory will depend on SA’s economic outlook and global risk sentiment, says analyst

The JSE closed at its highest level since February on Tuesday, with miners performing best, as global markets were lifted by hopes of an economic recovery following the release of some promising data.

“Risk appetite is in the driver’s seat after global purchasing managers index data showed the economic comeback is well under way and mostly topping expectations,” said Oanda senior market analyst Edward Moya.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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