SA stocks recover slightly
JOHANNESBURG – South
African stocks launched a slight recovery on Friday as oil price bounced back following a massive sell-off of most assets in a move into cash and liquid assets as panic grew over the impact of the coronavirus (Covid-19) and US travel ban.
African stocks launched a slight recovery on Friday as oil price bounced back following a massive sell-off of most assets in a move into cash and liquid assets as panic grew over the impact of the coronavirus (Covid-19) and US travel ban.
Brent crude rose more than 6 percent on Friday to $35.13 per barrel, helping the battered Sasol, which faced a week of turmoil that saw it surrendering more than 80 percent of its market value.
UK and US markets also rebounded after plunging on Thursday as cautious investors digested a European Union travel ban imposed by the US President Donald Trump..
Source: iol.co.za