JSE all share closes weaker on retailers as global markets take a breather
The JSE all share closed weaker on Thursday, with retailers dragging the market down and as global markets took a breather from strong gains over the past few weeks. Platinums made a late comeback on a firmer platinum price, which gained 0.61% to $926.39 an ounce at the close. Retail stocks reversed gains amid higher consumer inflation data, which may halt further rate cuts by the South African Reserve Bank. Retailers firmed on Wednesday after retail trade sales rose a significant 5.5% year on year in August. Naspers, which holds about a quarter of Chinese internet company Tencent, ended the day lower as the market looked ahead to a possible contraction in Chinese GDP growth, despite relatively strong growth of 6.8% reported for the last quarter. The Dow was 0.31% lower at the close, but still held up above the 23,000 points level in early trade. European markets were lower in jittery trade following the Spanish government’s decision to establish direct rule over Catalonia. "Spain’s...
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.