MARKET WRAP: JSE rises with global markets while rand weakens on new Covid-19 restrictions

The JSE advanced but the rand weakened the day after President Cyril Ramaphosa moved SA back to level 3 lockdown restrictions on Monday night in an effort to curb a surge in Covid-19 infections.

The drop in the rand extended its decline so far in 2020 to 4.7% as the market weighed the economic impact of the new restrictions, which will last until January 15. The regulations prohibit the sale of alcohol and require all non-essential shops, bars and restaurants to close at 8pm…