MARKET WRAP: JSE wraps up volatile 2018 on a high note
The all share, along with other global equities, had a rough year, losing 11% in share prices, its worst performance in a decade
The JSE rallied to a one-month high on Monday, rounding off a generally bad year for stocks on a high note. The all share ended the shortened session 0.56% higher at 52,736.90 points, with the top 40 gaining 0.50%, though trading volumes were light due to holidays. Resource stocks were well supported amid a broad recovery in commodity prices, notably Brent crude, which was up 2.31% to $54.28 a barrel. Banks and insurance stocks were generally positive, as were food producers, though the recovery in both sectors comes off a very low base. Fresh catalysts were few and far between, though a message by US President Donald Trump on twitter on Saturday boded well for risk markets. He signalled that trade talks between the US and China were moving in the right direction. The world’s two largest economies had, earlier in December, set a 90-day timeline to find common ground to resolve their trade impasse, which held risk assets hostage for months. The all share officially logged its worst a...
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