Contrary to expectation, the spillover of the bankingcrisis on SA stocks was limited. Moneyweb JSE markets
In a quarter filled with surprise monetary policy tightening in major economies, China’s reopening, and a mini banking sector rout in the US, the JSE finished the first three months of 2023 stronger, despite underperforming its global peers. The JSE All Share Index closed the first quarter to end March 4.2% stronger. In contrast, the US market, whose equities performed nearly two times better, gained 7.9% over the period.
Gold gained the most with its share price rising more than 40%, followed by Gold Fields , AngloGold Ashanti , and Harmony Gold . Leading the laggers was Transaction Capital, which slumped more than 65%, while Steinhoff was down nearly 57% and Murray & Roberts lost in excess of 42%. During the last month of the quarter, which was dominated by the mini banking crisis in the US, the JSE lost more than 2% as the collapse of major financial institutions injected panic in major markets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JSE cautiously firmer, while rand slipsInvestors caught off guard by Opec+ production cut, which poses new risk for global economy
Read more »
MARKET WRAP: Industrials Reit and Sasol lead JSE higherRand weakens in line with other emerging market currencies as oil spikes
Read more »
JAMIE CARR: Polish the gems and the imageGemfields expects another strong year
Read more »
Shoprite becomes latest company to list on A2XThe shares of the company, valued at R131.65bn on the JSE, will be available from April 11
Read more »
Nigeria: Fifth Constitution Alterations - Gearing for Good Governance in StatesEditorial - These amendments, which are short on public expectation, however convey a strong message on federalism: that Nigeria is a federation and should be governed accordingly.
Read more »