South African Banks Rally as JPMorgan Upgrades on Macro Outlook
An index of South African banking stocks climbed to a record high on Thursday after JPMorgan Chase & Co upgraded the country’s financial sector to overweight, citing an improving macro...
By Khuleko Siwele · Bloomberg Markets
An index of South African banking stocks climbed to a record high on Thursday after JPMorgan Chase & Co upgraded the country’s financial sector to overweight, citing an improving macro backdrop, attractive valuations and a positive earnings outlook.