Futures flat as JSE pares gains to close marginally higher
This ahead of Finance Minister’s medium-term budget policy statement
Futures were flat on Tuesday in subdued trade ahead of Finance Minister Pravin Gordhan’s medium-term budget policy statement on Wednesday. Futures followed cautious trade on the JSE as the all share pulled back on the firmer rand to close only marginally higher with platinums the star performers. The all share closed 0.13% up at 51,749.90 points and the blue-chip top 40 gained 0.15%. Platinums ended the day 3.46% higher, resources 1.03% and the gold index 0.28%. South African listed property shed 0.61%, financials 0.49% and general retailers 0.44%. Firmer commodity prices supported miners on the JSE with the gold price up 0.71% to $1,273 an ounce at the bourse’s close, while platinum had jumped 3.23% to $967. The weaker Brent crude price dampened global sentiment towards equities. By 5pm, Brent crude had shed 1.15% to $50.83 a barrel. At the same time European markets were mixed with the FTSE 100 having added 0.34%, while the Paris CAC 40 had shed 0.40% and the German Dax 0.13% afte...
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