The JSE added a slim 0.03% while global peers were mixed with European stocks opening lower before finding footing during afternoon trade.
The European Central Bank said it would raise the interest rate by 75 basis points to 1.5% while in the United States the economy grew by 0.6% in the third quarter. The growth represented a 2.6% annual rate, a rebound but not enough to erase fears of a recession.
But Asian markets benefited from speculation that central banks are considering a slowdown in interest rate hikes with a major player, Tencent closing 0.76% higher on Hong Kong’s Hang Seng, lifting the bourse.
In the currency markets, the rand is trading slightly stronger against the greenback continuing its positive showing against the dollar following the tabling of the medium-term budget in parliament on Wednesday.
Yesterday the local unit broke below the R18.00 level and is currently trading at R17.90/$.
