Futures slightly lower as JSE weakens and Dow falls on Trump woes
South African futures were marginally lower on Thursday as markets turned negative on renewed concern over whether US President Donald Trump’s administration will follow through on its envisaged policies of lower taxes and increased infrastructure spending.
The Dow Jones was 0.33% lower in late-morning trade while European markets retreated on disappointing company results, and after the dollar rebounded when the latest European Central Bank (ECB) meeting minutes indicated some unease over the stronger euro.
The all share closed 0.21% lower at 55,415.30 points and the blue-chip top 40 dropped 0.30%. Banks shed 0.54%, financials 0.49%, resources 0.19%, and industrials 0.13%. The gold index rose 2.07%, general retailers 1.52%, and the platinum index 0.94%.
Brent crude gained 0.75% to $50.67 a barrel and gold 0.14% to $1,284, while platinum was down 0.27% to $976.
The rand was at R13.1774 to the dollar from R13.1749 and the euro at $1.1741, from $1.1767, after weakening to $1.1662 in intra-day trade.
The top-40 Alsi futures index fell 0.15% to 49,048 points. The number of contracts traded was 20,277 from Wednesday’s 21,846.