JSE drops on reports of failed Covid-19 treatment, while rand firms

The JSE was weaker on Friday, along with its global counterparts, as doubts about progress in the development of drugs to treat the coronavirus weighed on investor sentiment.

Recently, markets were boosted by reports that Gilead Sciences’ antiviral drug, remdesivir, had helped Covid-19 patients with severe symptoms. However, the Financial Times has reported that the drug “flopped” in its first clinical trial.