The JSE All Share index ended a lacklustre week in the red as the market struggled to find direction in a choppy environment. The index closed 0.06% lower at 53,996.10 on Friday, ending the week 0.79% lower, as the market could not hold up above the crucial 54,000 level. The index is 6.6% up for the year. Market sentiment was cautious following upbeat consumer inflation data which heralded the possibility of lower rates. In a more mildly dovish stance, the Reserve Bank kept interest rates unchanged, but recognised the possibility of lower rates if inflation continued to surprise to the downside. However, that prospect failed to move the overall market. South Africa remains a wait-and-see economy, said Citadel analyst Maarten Ackerman, while the market eyed Moody's expected credit rating announcement. Ackerman said a lack of trust and confidence in the South African economy had resulted in a dearth of investment, damaging growth prospects. "This increases the risk of further rating d...
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