The most significant event of the week will come on Wednesday as investors brace for the US Federal Reserve to raise its interest rates yet again. The market is pricing in an interest rate hike of 75 basis points, which will be the sixth increase this year from the Fed. The JSE was little changed …
Market Wrap | JSE slightly higher ahead of crucial US Fed rate decision Read More »
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 …
Market Wrap: JSE squeaks higher, ECB hikes interest rate by 75 bps Read More »
The JSE added close to 2% higher on Wednesday while global peers have largely followed as investors hope the pace of US interest rate hikes might begin to slow. US stocks opened mixed following weaker-than-expected earnings reports from tech giants Microsoft and Google-owner Alphabet. The local bourse added 1.90% having firmed during morning trade before …
Market Wrap: JSE and Rand respond positively to mid-term budget Read More »
The JSE closed over 1% higher on Tuesday after large losses to bourse heavyweights Naspers and Prosus dragged it down during the previous session. There was no repeat of the heavy losses Naspers/Prosus suffered on Monday when it slumped 16% due to its exposure to China via a 29% stake in tech firm Tencent, which …
Market Wrap: No repeat of Naspers/Prosus Monday bloodbath on JSE Read More »
The JSE dropped lower on Monday after markets were spooked by Chinese president Xi Jinping’s decision to hand key economic posts to loyalists who back his zero-covid policy. The Chinese president’s moves saw Hong Kong’s Hang Seng Index slump 6.36% to 15,180.69 points, its weakest level since 2009 during the global financial crisis, reports AFP. …
Market Wrap: JSE drops lower as Xi spooks markets while Sunak election boosts FTSE Read More »
The JSE tracked global markets higher following the resignation of British prime minister Liz Truss, which also saw the pound trading on the front foot. Truss was forced to resign after just 44 days in office after her controversial tax cut plan backfired spectacularly, which led to her firing close political ally and chancellor of …
Market Wrap: JSE tracks global peers higher amid Truss resignation Read More »
The JSE dropped off sharply in the morning session following the release of the UK inflation numbers, which rose in September to a 40 year high of 10,1%, just exceeding a consensus forecast among economists polled by Reuters. European markets fell, with the FTSE closing at -0.17 % and the DAX down by 0.19 %. …
Market Wrap: Global markets wobble as UK inflation prints slightly higher than expected Read More »
The JSE tracked US and European markets on Tuesday as investors saw several positive signals, with Goldman Sachs Group Inc. the latest to provide positive earnings news. European markets continued to focus on the UK and as Joshua Mahony, senior market analyst at online trading platform IG, puts it: “Markets are clearly more optimistic after …
Market Wrap: JSE tracks European markets – slightly up Read More »
The JSE ended in the red on Thursday, following the Asian exchanges, but opposite the European, which closed in the green. The All Share Index was down by 0.21% and ended at 64,392.43 points. Both European and U.S. stocks recovered from large early-session drops as Wall Street looked to shake off inflation data, which showed …
Market Wrap: JSE in the red, while US and Europe turn up Read More »
Wall Street is up in the morning trading as investors shook off inflation data that came in higher than expected. Instead markets are looking ahead to a key consumer report that will indicate if the Federal Reserve’s will continue with rate hikes going forward. “Prices remain elevated so it shouldn’t be a surprise to see …
Market Wrap: Another dull day on the JSE – Wall Street trading in the green Read More »
