The JSE closed weaker on Friday on a sharp pull-back from market favourite Naspers, and as the range-bound rand failed to provide support to banks and financials amid global risk-off sentiment. Global miners led the resources index down on mixed commodity prices and a choppy Brent crude price. The rand was at R13.4925 to the dollar at the close, from R13.4607, ahead of Moody’s review of SA’s credit rating later on Friday evening. No change is expected. Global markets have been trading cautiously over the past few days amid concern about a possible conflict between North Korea and the US. US President Donald Trump has threatened to retaliate if North Korea follows through on its promise to attack Guam‚ a Pacific territory where the US has a naval base. Subdued US consumer inflation data released on Friday reduced the likelihood of further US interest-rate increases this year, supporting the Dow Jones at the JSE’s close. The Dow lifted 0.22% as US treasury yields climbed and the euro ...
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