The JSE closed lower on Friday as Donald Trump’s inauguration as US president drew nearer, with the dollar remaining largely flat and US treasuries stabilising at somewhat weaker levels. Markets were characterised by cautious trade for most of the week due to the lack of transparency on the policies of a Trump administration. Volumes on the JSE were on the low side, at about R14bn, with broad-based losses recorded, with industrials faring worst. Commodities were mixed with gold still hovering around $1,200 an ounce while platinum was up 0.46% to $962. The all share closed 0.70% lower at 52,532.30 points with the blue-chip top 40 down by a similar margin. Food and drug retailers shed 2.01% and general retailers 0.95%. Industrials relinquished 0.76%, platinums 0.65% and the gold index 0.63%. The all share ended the week 0.50% weaker, but is still up 3.71% in 2017. Markets were not expecting much detail on policy direction in Trump’s inauguration speech, analysts said. But at least it ...
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