MARKET WRAP: JSE and rand weaker with focus on Sona

The JSE closed weaker, with global peers mixed, and the rand also softer as investors focused on President Cyril Ramaphosa’s state of the nation address (Sona) on Thursday, the last of his first term of office.

“There was much hope that Thursday’s Sona would include the announcement of an election date,” said RMB analysts. “Nonetheless, the policy priorities set out in the Sona should give direction on how the government intends to deal with the multitude of challenges constraining economic activity and consequently the country’s ability to create job opportunities…