The JSE extended its losses on Friday, taking its lead from edgy world markets as investors fretted over whether US President Donald Trump would be able to follow through on his pro-growth initiatives. The all share index was off 0.43% to 51,804.50 points at midday, as resources in particular came under intense pressure. "The ability of the Trump presidency to achieve legislative goals has moved centre stage in the markets overall psychology, " Momentum SP Reid Securities analysts said in a note. "In large measure, the rally of the past few months has emerged in the wake of the pro-growth ... agenda of the new administration." The local share market also laboured under a very strong rand, which some analysts think is going to be a recurring theme in the coming months. The all share is heavily dominated by companies that derive most of their income overseas, making it sensitive to currency movements. The rand was headed for hefty back-to-back weekly gains to the dollar, supported by ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.