MARKET WRAP: JSE closes at best level in a month due to banks

Banks gained the most on the JSE on Thursday, with the local bourse closing at its highest level since March 12 as investors digested both upbeat and cautious comments by US Federal Reserve chair Jerome Powell.

Banks received a boost from the rand, which reached its best level to the dollar since January 2020. Absa led the gains, rising the most in just over two weeks, up 3.71% to R127.56. FirstRand added 2.33% to R52.30, Nedbank 2.18% to R147.25, Capitec 2% to R1,400 and Standard Bank 2.47% to R122.81…