The JSE opened marginally weaker on Friday as investors awaited Moody’s rating announcement due later in the day and as the market mulled possible further local interest rate hikes in 2017. US markets are set to open on Friday after Thanksgiving, but trading is expected to be low on the Black Friday consumer buying drive. The Reserve Bank kept rates on hold at its meeting on Thursday but warned that the global economic and political situation remained uncertain, which meant there may be rate hikes in 2017. While the monetary policy committee retained the view that the end of the hiking cycle could be close, there may be a reassessment of this position should upside risks transpire, the Bank said. Early morning volumes traded were very low as the market awaited the Moody’s announcement. At 9.26am the all share was 0.11% lower at 50,504.10 points and the blue-chip top 40 dropped 0.15%. Platinums were up 0.59%, the gold index 0.36% and general retailers 0.19%. Resources slipped 0.54%. ...
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