MARKET WRAP: JSE jumps 2%, led by banks and retailers
Risk-on sentiment was beneficial to the rand and local equities on Monday, ahead of a raft of economic data and political events this week
The JSE began the week with its best day in almost a month, tracking gains on global equity markets. The all share rose 1.96% to 51,690.1 points and the top 40 2.27%. Banks jumped 3.48%, general retailers 3.58% and industrials 2.72%. Global markets pushed higher largely on retail stocks, which have been boosted by expectations of one of the strongest earnings seasons in years, reported Dow Jones Newswires. Developments at the weekend were supportive of risk sentiment, analysts said, although a number of events this week could spark volatility in the market. There is a series of local data releases to look forward to, including a business confidence report on Tuesday, producer inflation data on Thursday, and balance of trade figures on Friday. The start of the Group of 20 (G20) summit on Thursday will be closely watched, as US President Donald Trump is expected to meet his Chinese counterpart, Xi Jinping, to push forward with a resolution to their trade differences. Markets are eyein...
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