MARKET WRAP: JSE closes at record high while rand slips as Omicron fears ease

The JSE closed at another record high, ending the session above 73,000 index points for a second consecutive day as investors judged the Omicron variant to be less of a threat to global economic growth than initially feared, boosting sentiment towards higher-yielding emerging market assets.

The rand weakened slightly, extending its weekly decline, though it stayed below the psychologically important R16/$ level. The Dow Jones Industrial Average also hit a new high as US weekly jobless claims fell, allaying fears that surging Covid-19 infections might derail a recovery in the world’s biggest economy…