JSE turns negative on caution before Donald Trump’s address
Investors on the JSE were marking time cautiously on the eve of President Donald’s address on Tuesday when it is hoped he will spell out plans to grow the US economy
The JSE dithered on Monday in line with global markets, suggesting that investors were cautious before US President Donald Trump’s address on Tuesday night. Trump is expected to put flesh on the bones of his fiscal-stimulus promises which have helped the US stock market to a series of record peaks. Corporate tax reform, infrastructure spend and ease of doing business were the pillars of his election campaign. The JSE’s all-share index was off 0.09% to 51,564.40 point at lunchtime after starting the session positively. The resource 10 index rebounded a tad, after last week logging its biggest weekly percentage drop in nearly a year. Iron-ore stocks were notable gainers as the underlying price rebounded 2% to $92.33 a tonne, but gold miners sold off materially despite a relatively stable gold price and the rand. Banks were marginally weaker as were broader financial stocks and industrials. Mercato Financial Services portfolio manager Charl Botha said any cabinet shuffle involving the ...
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.