The JSE ended a volatile week on a more positive note, with the All Share Index recovering 6% and narrowing losses for the week to 8.8%. It's still down 21% this month though as investors run for cover due to the crippling effect the Covid-19 pandemic is having on financial markets and economies around the world.

Amid the temporary respite, Capitec bounced 42% following a big sell-off of its shares earlier in the week. Datatec rose 42% as well after it said demand for remote work networks was on the rise following a strong end to its 2020 financial year. And Investec gained after releasing a pre-close update, which guided shareholders to expect a decrease in full-year earnings.

Meanwhile, more companies have detailed the impact the coronavirus is having on their operations. Steinhoff says European sales are under pressure as retailers close shop. And AngloGold Ashanti has had to temporarily shut its Cerro Vanguardia gold mine in Argentina due to countrywide restrictions that have been implemented.

Sasol continued its decline on Friday, shedding a further 10% to R27.14. It's not alone - all energy stocks have been under immense downward pressure with little sign of that abating. Investors have been slaughtered. Could the oil market bounce back? Get authoritative guidance by reading "OPEC - minus 1" from Ingham Analytics. Stay tuned too for top trader Andrew Kinsey's' note tomorrow that examines the relationship between fixed interest and equity, which have moved in tandem in the stampede to liquidate to cash.

With the All Share Index down 30% this year should you be buying or are markets still too volatile? In the report "In the darkness of tumult, a possible chink of light" Ingham Analytics analyses the forces at play. Click here for access to the report and a measured view of where things currently stand.

Finally, in The Week Ahead, Chris Gilmour looks back at the impact Covid-19 had on the market and the possible effect on US growth and throws ahead to some of the corporate results and economic releases to watch out for in the days ahead.

Let's hope this week pans out better.

Stay safe.

Stephen Gunnion

Managing Editor, InceConnect

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