The JSE closed weaker on Friday ahead of S&P Global Ratings’ latest review on SA. The market hedged its bets on a possible downgrade in risk-off trade. The announcement was set to be made after the market’s close. Analysts expect some volatile trading on Monday in the event of a downgrade. But many believe the economy might get a reprieve from S&P this time. "We do not think S&P will downgrade SA into junk this evening," said Rand Merchant Bank (RMB) analyst John Cairns. He said S&P was comfortable with October’s medium-term budget. "The progress on reform is probably just enough to have met their low expectations, and local politics was no worse than it was back in June," he said. Nonfarm payrolls rose by a seasonally adjusted 178,000 in November from the prior month, just short of the expected 180,000. September's nonfarm payrolls were revised up to a gain of 208,000 and October's number down to 142,000, a net decrease of 2,000. The unemployment rate dropped to 4.6% last month fro...
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