Market Wrap

The JSE raced to a new record within a whisker of 73,000 points amid a global tech and commodities rally, while optimism that omicron won’t dampen growth also buoyed the bourse. Commodity prices glittered, with platinum the biggest gainer, adding 2.18% to $962.00 at last count, while gold gained 0.43% to trade for $1,785.95 an …

Market wrap: Techs, commodities fuel JSE rally, while rand holds firm under R15.90/$ Read More »

The JSE turned positive as fears of omicron’s severity receded and as the bourse received strong support from banks and heavyweight commodity counters. News that the surge in Covid-19 cases since the emergence of omicron hasn’t overwhelmed hospitals so far, has prompted some cautious optimism that the new strain may cause mostly mild illness, reports …

Market wrap: JSE turns positive amid good omicron news Read More »

The JSE gave up its earlier gains to end the day 0.30% in the red at 70,807.60 points following a mixed US jobs data report and amid omicron jitters. Commodities had a good day, with gold rebounding 0.50% to $1,776.49/oz  and palladium 1.18% to $1,805.50. Platinum, however, lost 0.96% to last trade at $932.00/oz. Brent …

Market wrap: JSE slips on US jobs data and omicron fears, while rand loses footing R16.09/$ Read More »

The JSE tracked global stocks higher as hawkish comments by Federal Reserve chair Jerome Powell on higher inflation and adapting monetary policy gave commodities a boost. Platinum’s 1.5% gain to $955.15/oz lifted PGM counters, with Angloplat gaining 4.55%, RBPlats 4.32%, Implats 4.18% and Northam 0.45%. Gold counters were mixed amid gold’s 0.54% rise to last …

Market wrap: JSE back above 71,000 points, while rand stays below R16/$ Read More »

The JSE stood its ground, gaining 0.67% to 70,475.02 points as the new Covid variant omicron causes global uncertainty over how serious the variant will be, with investors seeking safety in the yellow metal. CBS News reports that omicron was in Europe before South African scientists detected and flagged it to the world. Gold counters, drawing strength from …

Market wrap: JSE stands firm on golden ground as omicron continues to wreak havoc Read More »

The JSE ploughed back above 70,000 points as calm returned to the markets after last week’s omicron scare, while a R43bn counter bid for RBPlats also supported the 2.03% jump in the All Share index. Investors drew confidence from scientists reassuring that although the new Covd variant spread more easily, existing vaccines are likely to …

Market wrap: JSE stages strong comeback as omicron fears recede Read More »

The JSE bled as a new Covid-19 variant found on home soil sent countries scurrying to close their borders to travellers from South Africa and surrounds and wreaked havoc in markets across the globe.  The selloff follows a warning from authorities that the new strain – B.1.1.529 – “has a big jump on evolution” and could …

Market wrap: Bloodbath on markets as investors flee to safety from new Covid variant Read More »

The JSE was flat at 70,554.68 points, with investors fretting over another Covid strain that could  potentially cause a severe fourth wave that could spread globally. The discovery, which comes as South Africa sees an uptick in case numbers and as several European countries battle a surge in Covid-19 infections, has stoked fears of a renewed local …

Market wrap: JSE flat as investors fret over renewed Covid threat Read More »

The JSE lost its footing but stayed above the 70,000-point mark, with weakness in financial services, retail and drug counters across the board leading the All Share index down 0.64% to end the day on 70,558.89 points. Investors across the globe are on edge over soaring inflation and as Covid-19 reemerges. Bloomberg reports surging inflation …

Market wrap: JSE loses footing but stays above 70,000 points as rand eyes R16/$ Read More »

The JSE has breached the critical 71,000-point level for another record as commodity and energy stocks pile up the gains. Energy counter Sasol surged 6.94% after executives told the company’s AGM that its Lake Charles chemicals project is insured against any possible claims resulting from a class action case in the US, and that they will suffer …

Market wrap: Sasol spurt helps JSE over 71,000-point mark Read More »