JSE weaker as Trump-induced global jitters continue
The all share is enjoying a fairly strong start to the year but European markets are weaker in line with US stock futures
The JSE continued weaker at lunchtime on Thursday, partly reflecting a jittery mood across the main global markets reacting to US President Donald Trump’s isolationist and protectionist language. On the flip side, the all share has had a strong start to 2017, which renders it vulnerable to profit taking, especially in the resource sector where shareholders have generated the most returns. "Uncertainty continues to dominate global markets. Think of Trump as US president, the Brexit process gaining momentum and potentially high-stakes elections in Europe," said Alwyn van der Merwe, director of investments at Sanlam Private Wealth. "On the local front, the ANC leadership succession battle is starting to heat up. Investors may be forgiven for feeling jittery going into 2017." The all share index was off 0.63% to 52,771.30 points at lunchtime, as banks and industrials lost 1.06% and 0.85%, respectively. But platinum and gold stocks bucked a weaker trend, thanks to a weaker dollar that li...
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