JSE suffers mild pullback on profit-taking

Johannesburg - World markets stabilised on Thursday after the exuberant reaction to a far more dovish stance by the Federal Reserve on US interest rates.

On the JSE the major indices were moderately lower after Thursday’s strong run and analysts contribute the modest pullback to nothing else than a little bit of profit-taking after the All-share index was at one stage more than 2% higher on Thursday.

The JSE followed Wall Street, where the Dow Jones and S&P 500 indices also pulled back somewhat on Thursday evening after Wednesday’s sharp gains. The Asian markets were also mainly lower on Friday morning.