adminThe JSE advanced last Friday on the back of strong gains across most global markets following a surge in US markets last week.
US markets rallied last Thursday on the back of optimism that the US market could reopen soon, and there was hope that a treatment for the coronavirus could be just over the horizon following a report from Gilead Sciences Inc.
Global stocks advanced despite weak Chinese GDP data, which showed that the Chinese economy contracted by 6,8 percent from a prior recording of 6,0 percent, while retail sales contracted by 15,8 percent.
Strong gains were recorded across Europe as well as the USA were stock markets opened firmer.
The rand had a mixed session as it traded mostly firmer before erasing most gains towards the JSE close.
On the JSE, Telkom was one of the day’s biggest movers after it surged 11,32 percent to close at R21,05, while Vodacom rallied 5,43 percent to close at R120,65. —fin24.com.
Online Reporter