MARKET WRAP: JSE starts week slightly higher as property stocks rise
Investors were focused on the release of results from heavy hitters — Lonmin, Astral, Sappi and Vodacom — but mixed performances failed to lift the overall market
The JSE started the week on a slightly firmer note on Monday as Naspers rebounded toward the close, supported by property and mining stocks.Heavyweights in the property sector, including Nepi Rockcastle and Growthpoint, lifted the sector, which has been the worst performer among the main indices so far this year, having lost 17.5%.The focus was on a number of company results — ranging from Lonmin and Astral to Sappi and Vodacom — with their mixed performances failing to lift the overall market.The Dow was 0.48% higher at the JSE’s close, while European markets trended lower on a firmer euro.Bourses around the world had recovered in recent sessions after a turbulent start to the year, amid a number of solid corporate-earnings results and bets that inflation was not rising at a pace that would force the Federal Reserve to accelerate its pace of interest-rate increases, Dow Jones Newswires reported.US stocks registered their biggest one-week gain since March last week, it said.The mark...
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