The futures market tracked the JSE lower while the Dow Jones industrial average opened higher. The all share closed lower on broad-based losses in the platinum and retail sectors. The Reserve Bank left the repo rate unchanged at 7%, as expected. The Bank’s governor Lesetja Kganyago said a reduction in rates would be possible if inflation continues to surprise on the downside‚ but warned that a weaker rand remains a big risk factor. The Dow Jones was up 0.39% at the JSE’s close. European markets were mixed with the FTSE 100 little changed. The CAC 40 had shed 0.13% and the DAX 30 0.24%. The all share closed 0.52% lower at 54‚028.40 points and the blue-chip top 40 dropped 0.52%. Platinums ended the day 5.1% lower and the gold index lost 3.94%. General retailers shed 2.88%, resources 2.04%, while industrials softened 0.16%. At 5.35pm‚ the local near-dated top-40 Alsi futures index was down 0.6% at 47‚770 points. The number of contracts traded was 17,461 from Wednesday’s 20‚028. With Ma...
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