MARKET WRAP: JSE maintains its momentum, tracking buoyant global markets
The JSE closed higher for a third consecutive day on Wednesday, as corporate earnings reports helped push key global equity markets into positive territory. The all share closed 0.62% higher at 54‚836.20 points and the blue-chip top 40 added 0.71%. The gold index rose 1.97%‚ resources 0.88%‚ food and drug retailers‚ and banks‚ both rose 0.82%‚ general retailers 0.71%, and industrials 0.59%. Platinums dropped 0.65%. Local equity markets had mainly tracked international markets, this year, said Nedbank Group Economic Unit analysts. So far, liquidity had trumped domestic politics, but the current global risk-on environment may turn into a risk-off environment, as much uncertainty remained, the analysts said. Anglo American was up 1.36% to R202.27, but Kumba Iron Ore shed 4.43% to R194‚ after gaining 17% on Tuesday in the wake of its interim results‚ in which it declared its first dividend since 2015. British American Tobacco was up 1.03% to R908.76‚ with Reinet gaining 1.17% to R30.30‚...
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