MARKET WRAP: JSE begins week in positive territory, as investors eye global central bank policy
Markets are expected to trade cautiously this week, waiting signals on the global growth outlook at Thursday’s Jackson Hole conference
The JSE was firmer on Monday, as markets traded cautiously ahead of further signals on the global growth outlook later this week. Analysts expected a quiet week ahead of Thursday’s Jackson Hole conference, a gathering of global central bankers. US Federal Reserve chairwoman Janet Yellen and European Central Bank (ECB) president Mario Draghi are both expected to give renewed outlook on quantitative easing this year. Retailers and platinums stood out amid broad-based gains, with analysts saying despite better-than-expected local retail sales data last week, the outlook remained constrained. Although a deceleration in consumer inflation, and lower interest rates, should provide some relief to households, tax increases and the renewed tightening in credit criteria would likely curb consumer spending, said Investec economist Kamilla Kaplan. Metal prices, including copper, aluminium and other industrial metals, rallied as investors speculated on the global growth outlook, reported Dow Jon...
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