JSE tracks weaker global markets, as focus shifts to weekend risks
The JSE opened lower on Friday, after the Reserve Bank’s surprise decision not to cut interest rates on Thursday‚ and with global markets watching the North Korean peninsula and European politics.Momentum SP Reid analysts said overall yield expectations, particularly as relates to the anticipated pace of interest rate increases, were the dominant story, against a backdrop of slightly heightened geopolitical tension.Media speculation is mounting over the content of UK Prime Minister Theresa May’s Brexit speech in Florence on Saturday, which will outline the basis for negotiations at the fourth round of EU-UK negotiations in Brussels next week, said Barclays Research analysts.German elections on Sunday are unlikely to significantly move the market, the analysts said.Tension on the Korean peninsula weighed on Asian stocks.North Korea’s foreign minister said on Friday the country could detonate a hydrogen bomb over the Pacific Ocean in response to President Donald Trump’s speech before ...
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