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MARKET WRAP: JSE records first week of gains in three

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S&P Global is expected to pronounce on SA’s rating on Friday night, with analysts speculating the outlook will be changed to negative

The JSE had its first weekly gain since the beginning of November on Friday as renewed hopes of a trade truce between the US and China helped global equities recover, after mixed messages from the two weighed on sentiment earlier this week.

Locally, credit ratings agency S&P Global is expected to release the result of its latest ratings review on SA on Friday night, with analysts speculating that the agency will likely change SA’s outlook to negative. At 5.20pm, the rand had weakened 0.13% to R14.707/$ while it was flat at R16.2395/€ and 0.4% firmer at R18.8866/£. The euro was down 0.15% at $1.1041.

The JSE all share rose 0.39% to 56,759 points and the top 40 0.5%. Resources gained 1.48% and platinum miners 0.53%. The all share gained 1.26% for the week.

 

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