JSE edges lower all round on uncertainty about oil prices and US interest rates
The JSE ended the Friday session down 0.67% to close at 50,797.70 points, with all the main indices in the red as global uncertainty about oil prices and the possibility of a US interest-rate increase in December weighed on some markets. The top 40 closed 0.63% lower, with financials leading declines, giving up 1.02%, followed by food retailers, 0.92% softer. European markets were mostly slightly firmer in late trade with the UK’s FTSE 100 up 0.11% and the Paris CAC 40 0.30% while the German Dax 30 retreated 0.13%. The Dow was 0.4% higher in morning trade. Nedbank Corporate and Investment Bank head of research Mohammed Nalla said markets seemed to be getting conflicting messages about Opec’s oil production cut. Some Opec members indicated they were willing to cut their peak output 4%, while others said they would not cut production, Nalla said. Russia, which previously indicated it might join Opec in reducing production, now said it would opt for a production freeze, he said. The oi...
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