The JSE closed little changed on Friday, but ended the week firmer, with some equities continuing to benefit from the prospect of global central banks loosening monetary policy in coming months.
Miner’s gains, however, have been partially offset by a firmer rand, which gained 3.36% against the dollar during the week, its best weekly performance in eight months. Shortly after the JSE closed, the rand was 0.23% firmer at R14.3256/$. It reached the week’s best level of R14.19 on Thursday. Naspers fell 1.05% to R3,4413.59. It said earlier that profit fell 39% to R6.9bn in the year to end-March. The market heavyweight also delayed its Amsterdam listing of NewCo, now called Prosus, until September.
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Opec losing market share in lieu of high oil prices isn’t sustainableBy curbing output, Opec is eroding its share of the global oil market with US shale firms the biggest beneficiaries of restricted production to lift prices, writes John Kemp
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