South African futures mirrored the indifferent performance on the JSE all share on Monday, and a flat opening on the Dow, as the market struggled to find direction in a week which promises lots of events but few expected policy surprises. Wednesday’s medium-term budget policy statement by Finance Minister Malusi Gigaba is a key event for the week. The Dow Jones had gained 0.10% soon after the JSE’s close with European markets in positive territory. The FTSE 100 was up 0.17% and the CAC 40 0.37%. The all share closed 0.09% higher at 57,999.60 points and the blue-chip top 40 added 0.13%. Resources climbed 0.79% and general retailers 0.09%. Food and drug retailers shed 0.61%, property 0.17% and industrials 0.07%. Trading volumes were low, at about R13.8bn. Traders appear to be turning their attention to Thursday’s monetary policy decision from the European Central Bank (ECB), led by President Mario Draghi, Dow Jones Newswires reported. Markets were expecting asset purchases to be cut i...
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