MARKET WRAP: JSE weaker as US stimulus ‘already priced in’

The JSE tracked weaker European markets on Friday, pulled lower by resources, property and general retailers, as investors assessed the much-anticipated US Covid-19 relief plan and stricter lockdowns amid surging Covid-19 cases in some parts of the world.

US president-elect Joe Biden has proposed a $1.9-trillion stimulus plan to fund immediate relief for the pandemic-wracked US and jump-start the world’s largest economy. Global stocks initially firmed on Thursday on reports that the stimulus package could be bigger than expected.  ..