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MARKET WRAP: JSE firms as ECB keeps rates on hold

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Positive earnings results from US banks, including Goldman Sachs, Morgan Stanley and Citigroup add further support

The JSE tracked global peers firmer on Thursday as the European Central Bank maintained its interest rates and three major US banks reported positive earnings results.

The ECB kept its monetary policy unchanged as expected on Thursday, but confirmed it will end its bond-buying programme in the third quarter as it seeks to balance inflation — which reached a record 7.5% in March — with a weakening economic outlook due to the war in Ukraine that has fuelled higher energy prices and supply chain bottlenecks...

 

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