MARKET WRAP: JSE firms on ongoing stimulus talks

The JSE closed firmer on Monday as investors remain hopeful of further stimulus measures from global central banks and governments.

Negotiations over the EU’s coronavirus recovery fund made a breakthrough on Monday morning after days in deadlock, with the “frugal four” nations’ leaders now ready to accept €390bn in grants, according to unnamed officials, with talks still ongoing on other elements of the package. The frugal four refers to the informal grouping of the fiscally conservative countries of Austria, Denmark, the Netherlands and Sweden.