Futures were weaker on Monday, tracking the lower JSE and US equities, which pared last week’s gains. Naspers lost more than 6% in intra-day trade in its sharpest daily fall so far this year, after a US technology stock rally was reversed in Asian markets. Tech stocks drove the US Nasdaq to a record high last week, but concern over high valuations led to a sharp correction on Monday. The Dow was 0.23% weaker at the JSE’s close and the Nasdaq had dropped 1.06%. Commodity prices were mixed with platinum gaining 0.33% to $942.42 an ounce while gold was flat at $1,265.95. Brent crude recovered 1% to $48.71 a barrel. The all share closed 1.25% lower at 51,564 points and the blue-chip top 40 dropped 1.54%. The gold index shed 2.24%, industrials 2.09% and resources 0.99%. Property gained 1.14%, banks 0.94%, financials 0.42%, and food and drug retailers 0.41%. The rand was at R12.831 to the dollar from R12.8986. At 5.52pm‚ the local near-dated, top-40 Alsi futures index was 1.71% lower at 4...
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