MARKET WRAP: JSE firms as positive economic data, corporate news lift sentiment

The JSE tracked its firmer global peers on Friday, while the rand strengthened along with other emerging market currencies as investors digested local corporate news, positive US company earnings and strong sales data for June, which helped ease this week’s sell-off.

Despite the day’s gains. the JSE all share lost 4.74% this week, with the rand falling 1.7% as worse-than-expected US inflation data solidified prospects that the Federal Reserve would need to hike interest rates more aggressively than initially expected, spiking fears of a recession…