Futures slightly weaker as general retailers drag JSE down on banking recovery
South African futures were marginally weaker on Thursday after the JSE closed higher with banks staging a late recovery. Banks were weaker in early trade after the decision by the Competition Commission to prosecute a large number of them for colluding to fix prices. The Dow Jones industrial average was flat at the JSE’s close (-0.01%). European markers were lower with the FTSE 100 losing 0.27%. Brent crude retreated in early evening trade, losing 0.59% to $55.32 a barrel after trading up for most of the day. The rand held firm below R13/$ at the JSE’s close, trading at R12.9564/$ from R12.9176. The all share closed 0.19% higher at 52,586.40 points and the blue-chip top 40 added 0.16%. Industrials were 0.55% higher, food and drug retailers 0.43% and financials 0.40%. Banks were flat, while platinums shed 1.36% and resources 0.86%. At 5.55pm, the local near-dated top-40 Alsi futures index was 0.19% lower at 45,510 points with 24,258 contracts traded from Wednesday’s 21,462.
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