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MARKET WRAP: JSE has good month, led by precious metal miners

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United Kingdom News News

The JSE edged a little higher in cautious trade on Friday, while June was the best month for the bourse in more than a year

The JSE closed higher on Friday, led by gains in Naspers, with the all share posting its best monthly performance since April 2018.

Gold has firmed and the dollar has weakened as the market prices in US rate cuts. Gold is seen as a hedge against loose monetary policy. All eyes are now on the G20 summit in Japan this weekend, with US President Donald Trump and Chinese President Xi Jinping set to meet on Saturday to discuss trade issues. The US-China trade war has been a dominant factor in global markets for more than a year, and any developments at the meeting could prompt volatility in the rand.

 

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