MARKET WRAP: JSE closes higher as property stocks recover some of the week’s losses
The JSE all share closed firmer on Friday as global miners and Naspers rose, while property stocks regained some lost ground following a volatile week for the sector.Property stocks came under pressure on Wednesday following rumours that a JSE real estate investment trust (reit) may be the subject of a forthcoming report by Viceroy Research, which, in December, published a report that sent Steinhoff International shares down 90%.The gold price reached its best level since September 2017, at $1,330.06 an ounce, while platinum was just shy of $1,000 an ounce, also last seen in September.The local market found some support from buoyant global markets with the Dow up 0.63% on Friday shortly after the JSE’s close, as quarterly company earnings generally beat expectations.The woes at Steinhoff showed little signs of abating. The troubled retailer was again down on the day, amid reports it was selling the 17% stake in online retailer Showroomprivé it acquired in May 2017 to French retailer...
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