MARKET WRAP: Investors remain cautious ahead of Trump inauguration
The JSE all share closed fractionally lower on Thursday, with Sibanye Gold and Harmony shares dropping drastically
Markets remained in limbo again on Thursday as investors await Donald Trump’s inauguration speech on Friday, with the JSE finishing fractionally lower while the rand traded in a fairly tight range. The European Central Bank confirmed its December announcement on Thursday to continue to buy €80bn worth of assets a month until March 2017 and €60bn between April and December, causing the euro, at first, to record gains on the dollar, before weakening in later trade. Hawkish comments by US Federal Reserve chairperson Janet Yellen in a speech in San Francisco on Wednesday failed to support the dollar as much as the market expected. In it she confirmed there would be "a few" interest-rate increases a year until 2019. That would bring the Federal Funds rate to about 3% from 0.75% at present, with the market expecting at least three rises this year. The JSE all share closed 0.06% lower at 52,900.80 points and the blue-chip top 40 was off 0.02%. The gold index shed 3.65% and platinums 1.12%....
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.