JSE opens flat after technical glitch delays trading for two hours
The JSE opened lower on Thursday morning, after a technical glitch prevented trading for almost two hours.Global markets were higher, despite a hawkish stance struck by the US Federal Reserve on Wednesday.The Fed announced it would begin reducing its $4.5-trillion balance sheet from October‚ and signalled it would raise interest rates again before the end of the year.Locally, the focus will be on the Reserve Bank monetary policy committee’s rate decision, where it is widely expected to announce a second 25-basis-point cut, after cutting in July for the first time in five years.Morning trade would be about adjusting to the Fed, while afternoon trade would be focused on the Reserve Bank, said Rand Merchant Bank analyst John Cairns. At 10.52am the all share was almost unchanged at 55,866.5 points.Banks had lost 0.63% and gold miners 2.78%.Industrials had added 0.08%.Rand hedge Anglo American was up 2.89% to R238.70 while Naspers had gained 0.4%. Naspers tracked gains in Tencent, in whi...
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.