Local stocks run out of steam as Bank of England raises rates for the fourth straight meeting, also putting pressure on the rand
The JSE continued the week’s descent on Thursday in line with global markets as investors pondered the implications of the Federal Reserve and Bank of England policy decisions.
The local bourse gained as much as 0.9% earlier in the day in response to the overnight rally on Wall Street where the market welcomed the Fed’s widely expected 50 basis-point increase in its benchmark rate...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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