MARKET WRAP: JSE edges higher but rally may be running out of steam
Analysts caution that the spectre of global recession and further aggressive rate hikes by the Federal Reserve and other central banks hasn’t disappeared
18 October 2022 - 19:29
The JSE closed marginally higher on Tuesday, adding to Monday’s sharp gain on the back of a turnaround in British fiscal policy, but analysts warn the rally may be losing steam.
The bourse gained almost 3% in the previous session after UK’s new finance minister, Jeremy Hunt, announced he would reverse the tax cuts announced by his predecessor Kwasi Kwarteng. Sentiment was further boosted by a solid start to the US corporate earnings season...
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