The JSE started August on a weaker note, opening lower on Tuesday following Monday’s record high, with broad-based losses ranging from miners to general retailers. The weaker rand affected general retailers and banks negatively, while miners and industrials were marginally down on a flat oil price. The all share index gained 7% in July, the best monthly performance so far this year. That was in line with global emerging markets which rallied on the weaker dollar. The benchmark MSCI emerging market index delivered a robust 6% gain in July 2017, pulled higher by a surge in the MSCI Latin America index (8.3%). The MSCI EMEA (Europe, Middle East and Africa) index rose 5.9%, followed by a 5.6% increase in the MSCI Asia index. The MSCI developed market index finished 2.4% higher in the month, boosted by gains in the US and, to a lesser extent Europe, while Japan lost 0.5%. The Dow Jones industrial average rose 2.54% in July. "US markets rode the stronger earnings wave as more than 80% of ...
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