The JSE bounced back on Monday from its lacklustre performance so far in April as retailers, banks and financials recorded solid gains on the firmer rand. Property stocks also had a good day, with the sector finally reacting positively to lower bond yields. The local currency strengthened to a three-week high against the dollar — R12.87/$ in morning trade. The dollar slumped to $1.0935 to the euro at the weekend, as the French elections got under way. The all share ended the day higher, despite platinum and gold stocks dragging the market down, as the JSE followed positive global markets on the victory of pro-EU French presidential candidate Emmanuel Macron in the first round of the French elections. The market took an optimistic view that Macron would beat right-wing candidate Marine le Pen in the final round of voting, buoying global equity markets. The Dow Jones opened 1.11% higher in the footsteps of surging European markets. The French CAC 40 rocketed 4.18% and the German Dax 3...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.