JSE could pause for breath after bouncing back

JSE could pause for breath after bouncing back

2021-11-30 09:26:00 AM

JSE could pause for breath after bouncing back

All-share index close to record highs after relief rally

Andries MahlanguPicture: BLOOMBERG/WALDO SWIEGERSThe JSE could pause for breath on Tuesday, after a relief rally that left the all-share index above the psychological of 70,000-points, which is near record highs.The rand, meanwhile, was little changed at R16.12/$, but was poised for its worst monthly performance since the start the pandemic.

Brent crude edged up 0.14% to $73.58 a barrel, having climbed down from its seven-year high of $86 a barrel, touched just more than a month a year ago, which is a saving grace for SA that is net importer of Brent crude.Other commodity prices also perked up, though they are yet to recover to Friday’s levels when global markets reacted negatively to the discovery of the new Covid-19 variant, which initially was perceived as potential risk to global economic recovery.

Platinum was up 1.54% to 964.50/oz, but palladium was flat at $1,805.25/oz.Asian share markets were mostly higher, catching up with other global markets amid receding concerns over the Omicron variant.Vaccine manufacturers, including Johnson & Johnson and Moderna, said on Monday they stood ready to adapt their vaccines to deal with Omicron, if needed, helping to soothe market concerns. headtopics.com

Good news for driving licences in South Africa

“It will likely be a couple of weeks before the great and good of the global scientific community can make a definitive judgment on how serious the Omicron variant is,” said Jeffrey Halley, senior market analyst at Oanda in a note.“That means December is likely to be choppy and driven by Omicron headlines, and the heavyweight data calendar this week will be rendered irrelevant. All that will matter is whether more restrictions are coming back around the world, and whether central banks, especially the Fed, hit the pause button on monetary tightening plans.”

Read more: Business Day »

Bongani Baloyi joins ActionSA

The party made the announcement during a press briefing on Monday. Read more >>

South Africa can jump start its economy if it does the following: 1-Remove the race based BBBEE laws! 2-Remove all labour law red tape! 3-Reduce Corporate Income Tax to 22%! (This will be lowered to 27% next year tho) .... TalkingAfrica

MARKET WRAP: JSE and rand recover from Friday’s sell-offRand recovered after the president said government had decided not to tighten lockdown curbs until more information was available on Omicron

JSE faces muted Asian markets on Monday as investors eye OmicronOil prices recovered 4%, but concerns that Covid-19 will persist have been pummelling global markets since Friday For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️

MARKET WRAP: JSE and rand recover from Friday’s sell-offRand recovered after the president said government had decided not to tighten lockdown curbs until more information was available on Omicron

JSE faces muted Asian markets on Monday as investors eye OmicronOil prices recovered 4%, but concerns that Covid-19 will persist have been pummelling global markets since Friday For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️