JSE. Picture: REUTERS
JSE. Picture: REUTERS

Stock exchanges trading ahead of the JSE’s opening on Tuesday morning generally took their cue from weaker US and European indices.

An exception was London’s FTSE 100 which closed 0.38% higher on Monday, with British shares boosted by the pound’s slump on "hard Brexit" fears. These were sparked by a comment from UK Prime Minister Theresa May indicating she considered barring immigrants to be more important than maintaining access to the EU’s single market.

The rand was 0.5% stronger at R16.55/£ ahead of the JSE’s opening on Tuesday as the pound continued its slide.

While the weaker pound was good for London stocks measured in their local currency, the JSE’s UK-focused listings suffered.

Brait fell 3.38% to R79.52, Capital & Counties 3.31% to R48.15 and Intu 2.67% to R46.23 on Monday.

Sasol may benefit on Tuesday from a rally in international oil prices. Brent was 0.56% higher at $55/barrel and West Texas Intermediate 0.46% higher at $52 at 6:52am.

Paris’s CAC 40 index closed 0.45% lower and Frankfurt’s DAX 30 index 0.3% lower on Monday.

On Wall Street, the Dow Jones Industrial index fell 0.38% to 19887 points, again dashing hopes of those waiting for the "odometer effect" of it clocking 20,000 for the first time.

The S&P 500 index fell 0.35%, but the Nasdaq index rose 0.19%.

Tokyo, which reopened after a public holiday on Monday, took its cue from Wall Street with the Nikkei 225 index down 0.88%.

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