MARKET WRAP: JSE slips 1% as risk events loom

The JSE fell on Friday in broad-based losses, but ended the week a little higher, as investors digested data indicating a global economic slowdown.

The rand was a little firmer on Friday, putting some pressure on rand hedges, but the outlook for the currency remains somewhat cloudy. Political noise around the nationalisation of the Reserve Bank was weighing on the currency, whose bias was for weakening the rand, said Nedbank Corporate and Investment Banking analyst Walter de Wet in a note.

As the JSE closed, gold was up 0.86% to $1,348.10/oz while platinum had fallen 0.48% to $804.66. Brent crude was 1.29% higher at $62.12 a barrel.

Source: News Formal (newsformal.com)

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