JSE firms in choppy trade, as gains by Naspers offset losses in banks and platinums
The JSE firmed on Friday, also ending the week higher, amid a return of risk-on sentiment and despite signs of some profit-taking. Trade on both the JSE, and global markets, was choppy, wrapping up an action-packed week of news. Earlier in the day miners were under pressure from generally weaker commodity prices, although late in the session, gold miners reversed losses. Banks fell sharply, while rand hedges were mixed. Markets were dominated by two concerns this week: the risk of rising protectionism and the Italian election. The failure of any political party to emerge as an outright winner in Italy’s polls has raised concerns over instability in that country. Markets showed little reaction to US President Donald Trump’s introduction of certain import tariffs on Thursday, with analysts saying they had been partially priced in, with expectations they would now be used as leverage in ongoing trade talks. Both of these issues were are likely to rumble on into the week ahead, said Inv...
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