JSE closes higher as oil price climbs
The local bourse ended the session in positive territory, though rising crude prices kept a check on sentiment.
The JSE closed the session in the green, with the market finishing the day on a stronger footing.
The gain came alongside a rise in the oil price, a combination that leaves South African investors weighing a firmer local board against higher crude costs.
The market update was presented by Jaco Prinsloo of Alexforbes, as carried in Moneyweb’s SAFM Market Update.
Moneyweb’s report gives no closing level for the JSE All Share index and no figure for the oil price move, so this account does not state either. It also gives no detail on which shares or sectors drove the day’s performance.
For South African readers, the two indicators matter in different directions. A stronger JSE lifts the value of pension and unit trust holdings that most working households depend on for retirement. A rising oil price feeds through to fuel costs, which reach households through transport and food prices.
Source: Moneyweb, JSE finishes the day strong
