A mixed reaction to a series of corporate results and risk-off sentiment on global markets ensured broad-based losses on the JSE on Thursday morning, as US treasury yields climbed back above 2.94% following the release of US Federal Reserve minutes. The release on Wednesday of minutes from the Fed’s January meeting had once again stoked the fear of faster than expected normalisation of US monetary policy, analysts said, helping to reverse gains on major US equity markets. Locally, the corporate results calendar was busy, with the market reacting favourably to statements from Woolworths and Massmart. At 9.30am Sibanye-Stillwater slumped 7.11% to R12.55 after earlier announcing it was withholding its final dividend for the first time, reporting a loss of R4.4bn in the year to end-December. Massmart had gained 1.45% to R144.52, after earlier upping its final dividend by 16% to R3.47 compared with the previous year. The Walmart subsidiary, however, stressed an extra week in the past fin...
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.