The firmer rand gave the JSE much of its direction on Tuesday, with banks and financials gaining on the day, while mining stocks were squeezed. Clicks and Pick n Pay were the star performers in their index, with both due to report financial results on Thursday. Retail sales and consumer inflation data were expected on Wednesday, with US consumer inflation numbers possibly also moving interest-rate sensitive stocks on the day. Gold miners lost the most on Tuesday, as investors continued to withdraw from safe-haven positions. Major global currencies all faced headwinds on Tuesday, with the euro weakening the most against the rand, following disappointing data on German economic sentiment earlier. At the JSE’s close on Tuesday, Germany’s export-heavy DAX 30 had jumped more than 1.5%, while US bourses were also positive as corporate earnings season there continues. Investor appetite for risk assets had been dented somewhat recently, but appeared to be holding up, BlackRock chief investm...
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.