The JSE firmed on Thursday, tracking major bourses in Europe and the US, as an element of risk-on trade crept back into the market.The rand was slightly weaker, but banks and retailers cheered overnight gains, while positive local data failed to lift mining indices amid easing geopolitical tension.Earlier, data showed local mining production grew 3.1% in February compared to the same month in 2017, beating a Trading Economics forecast of 2.3%. Miners had been supported by robust commodity prices, with The Economist metals index registering highs over the past few months that were last seen several years ago, said Investec economist Lara Hodes.This week, investors have grappled with trade-war fears, concern of a US-Russia conflict over Syria, and mixed local and international economic data. While these factors explained why investors weren’t feeling particularly bullish, the chances of either materialising was unlikely, said Oanda analyst Craig Erlam. This should prevent any equity s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.