North Korean rocket ambitions boost resources, but JSE closes lower
The JSE began the week on the back foot, but gold miners continued to surge amid risk-averse sentiment, prompted by tension over North Korea. North Korea’s test of a nuclear device this weekend helped subdue markets on Monday, with Labor Day in the US dampening things further. While some analysts said a retreat to safe-haven assets that helped boost gold miners may unwind after initial responses from investors, periodic comments from US President Donald Trump, or from Pyongyang, could also have an effect on coming sessions. Despite geopolitical tension, local markets had gained in August. With eight months of the year now over, 2017 returns were certainly much better than last year’s, said Old Mutual Multi-Managers strategists Dave Mohr and Izak Odendaal. At the JSE’s close the FTSE 100 was off 0.21%‚ the CAC 40 0.23% and the DAX 30 0.14%. Spot gold was up 0.76%‚ at $1‚334.80 an ounce. Brent crude had lost 0.17% to $52.65 a barrel. The JSE all share lost 0.36% to 56‚312.80 points an...
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