JSE rises slightly as retailers rebound in cautious trade
Brent crude softened in morning trade as the market digested the Reserve Bank’s decision to keep interest rates on hold with a hawkish forward view
The JSE opened marginally firmer on Friday on a softer rand as retailers rebounded after being heavily sold off on Thursday.The rand was at R12.50 to the dollar from R12.4218 as the market awaited S&P Global Ratings’ latest review on SA, which is expected after the market closure.Local trading was cautious after the Reserve Bank kept interest rates on hold on Thursday, with a hawkish outlook based on the weaker rand, higher oil prices and geopolitical risks, including the possibility of an extended trade war between the US, China and the eurozone."The likelihood is that inflation will continue to trend higher over the upcoming months, which would play a role in preventing the Bank from being able to reduce interest rates any further for the time being," said FXTM analyst Jameel Ahmad.The market was following mixed Asian markets after the Dow closed 0.3% lower in the previous session, recovering from session lows toward the close after having initially dropped on news that President ...
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