The JSE fell fairly sharply on Tuesday around lunchtime, lagging behind other word equity markets. A range of stocks came off the boil, leaving the all-share down 1.48% to 57,834. The retreat came off a relatively high base, after buying momentum recently pushed some of the shares to record highs. The focus is now on Wednesday’s budget, which analysts have said will provide a reality check and could slow the momentum generated by the election of Cyril Ramaphosa as President. Market reaction to individual corporate earnings also amplified moves in the all share, which was poised to end weaker for the third session in a row. BHP was down nearly 4% to R246.61, even as the heavyweight resources company reported a 25% rise in first-half underlying attributable profit to $4.05bn and upped its interim divided 38% to $0.55 per share. Imperial was down just more than 6% to R256.91, suggesting the market expected more than the transport and logistics group was able to offer in its first-half ...
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