Futures lower on global risk-off trade with JSE losses led by platinums
South African futures were lower on Friday after the JSE closed lower as global risk-off trade dominated sentiment amid doubts that the healthcare bill in the US would be passed. The JSE losses were led by platinums down 2.49%. Gold miners and the SA listed property index were firmer up 0.81% and 0.12% respectively. The Dow Jones industrial average was firmer gaining 19% to 20,692.5 points as the dollar softened. The rand, however, remained on the front foot reaching a 20-month best level of R12.4369 to the dollar in intra-day trade. Currency experts are, however, convinced that the rand’s rally will be short-lived as position-squaring could result in it losing some ground. At 5.45pm‚ the local near-dated top-40 Alsi futures index was 0.58% lower at 45‚124. The number of contracts traded was 13,129 from Thursday’s 19‚190.
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