Risk-off sentiment on global markets and a series of mixed corporate results provided the JSE with much of its direction on Thursday, with retailers the only major index to rise, after the market reacted positively to results from Massmart.The release of the minutes of the US Federal Reserve’s January meeting on Wednesday had seen the Dow reverse earlier gains, with a spillover effect for global equity markets on Thursday.While three US interest-rate increases in 2018 were now strongly priced in – with a more than 50% likelihood -there was potential for a fourth, and more again in 2019, said Oanda analyst Craig Erlam. This appeared to be worrying investors and shaking confidence in equity markets.Locally, reaction to corporate results was mixed. British American Tobacco fell more than 4%, while Sibanye-Stillwater’s statement sunk the gold index, which lost just over 4%.The all share fell 0.77% to 58‚155.1 points and the top 40 0.91%. The gold index lost 4.1%‚ platinums 2.55%‚ financ...
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