MARKET WRAP: JSE closes weaker in cautious trade

Oil edged up from multi-month lows, but prices remain under pressure from supply glut that has persisted despite Opec-led efforts to balance market

Gold rises as oil

The fallout from the Cabinet reshuffle is yet to be fully reflected in the local economy, but yield-seeking foreign investors keep the rand in check

Analysts say the rand will remain driven by political events and that emerging markets are ‘on the front foot’ as global risk appetite stabilises

Metal benefits from risk aversion as weaker oil prices dent equities and the dollar retreats

Sasol suffered a double blow, with a lower oil price environment and a stronger rand, pushing its stock down and bringing losses to 10% so far in June

The Constitutional Court confirms the speaker has the right to okay a vote of no confidence in the president by way of a secret ballot

China’s appetite for imported iron ore remains strong, meaning the price decline so far this year isn’t driven by weakening demand, writes Clyde Russell

Increasing US output and renewed output from Nigeria and Libya continues to undermine Opec’s output cut agreement

Despite the ruling, the rand remained buoyed by higher commodity prices and interest in emerging-market bonds

Since peaking in late February, crude oil has dropped about 20%, with only brief rallies, completely erasing gains at the end of 2016

NKC economists expect inflation to moderate towards the end of the year, supported by low domestic demand and a resilient rand

Risk aversion has knocked food and drug retailers, banks and financial stocks, while gold and platinum miners rose

Politics remains the main driver of the currency, which has managed to break back under R13/$ — but the top court’s ruling is not expected to be wildly ...

The market is watching US economic data as the likelihood grows that the Fed will increase interest rates again this year

Prices rose after the news that US crude and petrol inventories declined — but the rise was short-lived, and not even a hint at further Opec cuts could lift ...