MARKET WRAP: JSE closes lower as platinums retreat in risk-off trade
The JSE all share closed lower on Thursday, after a weaker rand failed to lift miners, and as risk-off sentiment dominated global markets. Risk aversion was evident after the Bank of England minutes revealed that an interest-rate hike to contain inflation was possible in the coming months. "The latest monetary policy committee meeting minutes highlight a significant shift in tone," Barclays Research analysts said. The pound strengthened in response as UK bond yields rose. The FTSE 100, however, was 0.94% weaker while the Dow was marginally higher at the JSE’s close. Resource shares were lower on generally weaker metal prices, but Sasol jumped more than 2% after Brent crude rose above $55 a barrel for the first time since April, hitting $55.63 a barrel in early evening trade. The all share closed 0.54% lower at 55,850.30 points, with the blue-chip top 40 also down 0.54%. The platinum index shed 3.32%, resources 1.17%, banks 0.55%, industrials 0.42% and financials 0.23%. Food and drug...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.