MARKET WRAP: Sasol rally leads gains on JSE
Energy and chemical company’s shares rocket 7.5%, while overall market awaits US inflation data
08 April 2024 - 18:40
The JSE tracked firmer global peers on Monday as markets attempted a rebound after stronger US jobs data forced investors to delay forecasts for when the first interest rate cut will be implemented.
Labour market strength is one data point that the federal open market committee hawks will use to argue for caution on the timing of anticipated rate cuts when the committee meets at the end of the month, RMB analysts said. “Market-based probabilities continue to expect a cut in June. However, uncertainty remains high.”..
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