MARKET WRAP: JSE firms on improving oil prices

The JSE ended more than 3% firmer on Thursday as the rebound in oil prices continued. Attention now turns to an expected announcement by President Cyril Ramaphosa later on Thursday night on the easing of lockdown measures.

There was optimism in the market that with oil prices at historic lows, producers will continue to scale back on production to cope with a collapse in demand for fuel as the coronavirus pandemic ravages the world’s economies, reported Reuters.