MARKET WRAP: JSE ends November on a firm footing
Banks, industrials and precious metals the main drivers of the month’s gains as belief deepens that US rates have peaked
The JSE tracked firmer global markets on Thursday after the latest reading of the Federal Reserve’s preferred measure of inflation slowed as expected.
The local bourse rose 8.44% on the month as investors turned increasingly confident the Fed has reached its interest rate pivot, and could potentially even start cutting rates earlier in 2024 than initially expected. The main drivers of the monthly increase were banks, industrials, and precious metals, which gained 10.33%, 10.01% and 9.82%, respectively...
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