Futures lower as JSE all share closes down ahead of S&P announcement
South African futures were weaker on Friday as the JSE all share closed lower for the second successive session ahead of the S&P Global Ratings credit announcement. Although the all share pared some of its losses in late afternoon trade, the tendency was to price in a downgrade, although many analysts hoped for a reprieve. US nonfarm payroll figures added to the negative sentiment, increasing the chances of a US rate rise next week. At 5.43pm, the local near-dated top-40 Alsi futures index was 1.37% lower at 42,909 points with 30,475 contracts traded from 40,918 on Thursday. The Dow Jones industrial average was 0.19% lower at 5.55pm, and European markets were weaker ahead of Sunday’s Italian referendum on constitutional reform, and the Austrian presidential election. The FTSE 100 was 0.38% lower, the Paris CAC 40 0.71% and Germany’s Dax 0.26%.
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