MARKET WRAP: JSE resumes record run on US stimulus promise
Shares in Pick n Pay fell after the group announced its CEO Richard Brasher is stepping down and will be replaced in April
The JSE tracked mostly firmer global markets on Thursday, reaching another record high, with investors focused on the US, where a large stimulus package is expected from the incoming administration and which boosted investor appetite for risky assets.
US president-elect Joe Biden is scheduled to give details on Thursday regarding a fiscal support package that is expected to involve trillions of dollars. While Biden has said he is seeking the support of Republican lawmakers in passing the package, Democrat control of all three branches of the legislature means he does not require it...