JSE resilient as global markets cling to hope of compromise over Ukraine

As the world braced itself for potentially the worst conflict in Europe since World War 2, local markets were resilient as volatile global markets swung into positive territory, signalling confidence that a compromise will eventually be found.

In a volatile day that saw the oil price jump towards $100 a barrel as Russian President Vladimir Putin ordered troops into Ukraine, marking a major escalation in a conflict that’s been brewing for weeks, the rand traded in a 23c range and was 0.48% firmer by 7.45pm. The local currency, which fell 0.3% on Monday as the Russian rouble lost almost 3%, has gained 5.75% so far in 2022…