MARKET WRAP: JSE ends volatile week with broad-based gains
After choppy trade at the start of the week, the bourse pushes higher led by retailers and banks, but is lower for the week
The JSE pushed higher on Friday in thin-volume trade, having extended its gains in the late afternoon, as market heavyweight Naspers released its results.Banks and retailers led the gains on the day, but ultimately failed to reach their starting positions on Monday, when they came under strain as the rand slid due to international trade tension.On Friday, global markets were buoyant, appearing unfazed by the ongoing global trade war and a 2% jump in the price of Brent crude. This followed clear signs that oil-cartel Opec and Russia had agreed to increase production, but by less than had been expected.The export-heavy DAX 30, however, pared gains sharply on Friday afternoon, as automotive stocks were hit by a renewed threat by US President Donald Trump to impose 20% tariffs on EU vehicles, targeting Germany.Markets, including in the US, were experiencing something of a bounce at the end of the week, said Oanda analyst Craig Erlam, but investors remained concerned over just how to pro...
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