MARKET WRAP: Rand strengthens and JSE gains ahead of Ramaphosa address

The rand strengthened for a third consecutive trading session and the JSE advanced as President Cyril Ramaphosa prepared to address the nation on its Covid-19 progress; and world markets settled on reports that a recent explosion in retail trading would not derail an equity market bull run.

The rand was the third-best performer against the dollar among emerging-market currencies and the JSE all share advanced as the S&P 500 rebounded from the worst selloff since October, led by retailers, tech and industrial shares…