JSE resilient as global markets cling to hope of compromise over Ukraine
Global events dominant markets a day before finance minister Enoch Godongwana is due to unveil his maiden budget
As the world braced itself for potentially the worst conflict in Europe since World War 2, local markets were resilient as volatile global markets swung into positive territory, signalling confidence that a compromise will eventually be found.
In a volatile day that saw the oil price jump towards $100 a barrel as Russian President Vladimir Putin ordered troops into Ukraine, marking a major escalation in a conflict that’s been brewing for weeks, the rand traded in a 23c range and was 0.48% firmer by 7.45pm. The local currency, which fell 0.3% on Monday as the Russian rouble lost almost 3%, has gained 5.75% so far in 2022...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.