The JSE was flat on Wednesday as banks and retailers fell on the weaker rand and only marginal growth in retails sales in April. After a promising opening, the market was hit by risk aversion near the close with the Dow Jones industrial average opening more than 1% lower on renewed jitters around the troubled presidency of Donald Trump. European markets were also down with the Paris CAC 40 down 1.50%, Germany’s Dax 1.24% and the FTSE 100 0.41%. After reaching a best level of R13.04 to the dollar in intra-day trade the rand was last at R13.17 to the greenback as emerging-market currencies came under pressure on risk-off trade. US President Donald Trump has been under fire following reports in The Washington Post that he divulged intelligence secrets to the Russians, now said to have emanated from Israeli sources. The controversy relates to Russian leader Vladimir Putin offering to release a recording of the conversations between Trump and the Russian foreign minister and Russian amba...
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