JSE closes weaker as markets await direction on US policies
Meanwhile, the rand failed to provide direction for the equity market and was largely unchanged at about R13/$ in late afternoon trade
The JSE closed lower for the third successive session in dull trade on Tuesday, as US GDP data came in lower than expected ahead of President Donald Trump’s address to congress, later in the day. Banks and financials were lower after opening positively, with gold shares sharply down. US growth in the fourth quarter amounted to 1.9% from an expected 2.1%. The dollar weakened marginally in response with the yen gaining on the greenback in safe-haven trade. The rand failed to provide direction for the equity market and was largely unchanged at about R13/$ in late afternoon trade, as the market awaited Trump’s speech. "Overall, markets were dull and listless," said Standard Bank trader Warrick Butler. The all share closed 0.68% lower at 51,146.10 points and the blue-chip top 40 dropped 0.75%. The gold index shed 3.26% and food and drug retailers dropped 1.42%. Property was down 1.03%. Resources closed 0.94% lower and banks dropped 0.81%. US markets were marginally weaker at the JSE’s cl...
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