Banking stocks rebound
JOHANNESBURG – Banking
stocks rebounded on Friday after the SA Reserve Bank announced measures to inject liquidity in the market to provide cheaper access to funding to stamp out the rout over the global outbreak of the coronavirus (Covid-19).
stocks rebounded on Friday after the SA Reserve Bank announced measures to inject liquidity in the market to provide cheaper access to funding to stamp out the rout over the global outbreak of the coronavirus (Covid-19).
The JSE’s banking index rose as much as 8.2 percent on the provision of the local banks with cheaper access to funding as the financial markets have come under increased pressure with the spread of the pandemic.
The banks index has fallen as much as 13 percent since the Covid-19 risk sell-off wreaked havoc in the global and domestic markets.
Source: iol.co.za
