JSE static as investors digest increasing virus numbers
Positive economic data was outweighed by Covid-19 numbers, especially in the US, which may lead to new lockdown measures globally
The JSE was little changed on Friday as positive economic data was overshadowed by a resurgence in coronavirus cases, raising concerns that some countries might need to go back into lockdown, delaying the economic recovery.
Data out of the US on Thursday showed that non-farm payrolls grew by 4.8-million in June, above expectations of 3-million new jobs; while China’s services purchasing managers’ index grew at the fastest pace in more than 10 years in June, data showed on Friday. The positive numbers follow the easing of lockdown restrictions and reopening of business activity.