JSE closes higher on mixed global markets as US inflation comes in higher than expected
The JSE closed higher on Wednesday amid mixed global markets as higher-than-expected US consumer inflation caused only a moderate risk-off reaction. The Dow was 0.4% lower at the JSE’s close, but European markets had firmed on a weaker euro. In choppy trade, local market sentiment turned positive towards the close after an initial sell-off following the release of the US inflation data. US consumer prices rose 2.1% year on year in January, unchanged from the previous month, but higher than the expected 1.9%. Core consumer inflation rose 1.8% over the year. The Fed is set to raise interest rates three times this year, but higher inflation might lead to more increases. "If there is one thing investors have learnt from last week’s global sell-off, it is that the US still matters most," said Old Mutual Multi-Managers investment strategist Dave Mohr. He said the sell-off started in the US then spread across the world. "As riveting and frustrating as our local politics are, investors need...
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