The JSE ended a volatile week on the front foot and the rand also held steady on Friday despite mounting concern over the impact and potential spread of China's coronavirus, particularly due to movement of people over the Chinese New Year on Saturday. While the JSE's All Share closed two-thirds of a percent firmer, taking its lead from Europe's markets, Wall Street closed down as investors there took a more cautious approach. Sasol and Pepkor were among the JSE's gainers. Sasol rallied as much as 6.8% after assuring investors that an explosion at Lake Charles earlier this month was limited to one unit at the US chemicals project and that it would report a largely strong operational performance from its other operations for the remainder of its financial year to end-June. Pepkor gained on the back of positive first-quarter sales that were curtailed by the late opening of schools this month. Meanwhile, Reinet has been given the green light to broaden its investment mandate, sending its shares higher, and plastics manufacturer Bowler Metcalf has recovered after last year's strike. Pan African Resources was one of the losers despite maintaining full-year production guidance as new projects come on stream. Watch out this week for a trading update from Woolworths, which has yet to report back on festive season sales. I hope you have a good week. Stephen Gunnion Managing Editor, InceConnect |