The JSE began the week on a positive note on Monday, in line with buoyant global bourses, while markets largely welcomed the day’s local corporate news. The JSE, however, pared earlier gains, with banks and retailers closing lower despite a strong start to the session, while the rand remained at a three-year high to the dollar. Firmer precious metal prices and an optimistic tone on international markets supported miners. US Treasury yields, which are being closely watched by investors, were also supportive of risk assets generally. The week, however, is littered with expected commentary by global central bankers, with data releases also including inflation readings for both the US and euro area. Despite signs of rising inflation, it was likely that central banks would be overly hawkish, said Old Mutual Multi-Managers analyst Izak Odendaal. "The global backdrop therefore remains supportive for SA, with strong global economic growth, firmer commodity prices, inflation that is still mi...
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