JSE weaker but gold shares jump after US strike in Syria
Nedbank Corporate and Investment Banking analysts say the local outlook remains fluid and the US remains the real driver
The JSE was weaker at midday on Friday as countrywide anti-Zuma protests drew huge numbers onto the streets of the major cities with opposition parties resolute that the fight for his removal will not end soon. Parliament will vote on April 18 for President Jacob Zuma’s removal as president, with opposition parties now pushing for a secret ballot to unseat the ANC leader. Analysts said the 50 South African Communist Party (SACP) members with dual ANC membership would be crucial to the no-confidence vote. The SACP, together with Cosatu, has called for the president to step down. The rand was largely unchanged at R13.75/$ for most of the morning as international focus shifted to President Donald Trump’s action to release a bombing raid on a Syrian airfield in retaliation for an earlier gas attack on a Syrian town. Russia reacted strongly to Trump’s action, calling it an “act of aggression”. The rising international tension supported the gold price, which was up 1.03% to $1,264.59/oz a...
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.