The JSE gave up earlier gains to close flat on Monday, despite risk-on global trade for most of the day. The bourse pared much of its gains late in the session as the Dow slipped, with more than half of losses due to a sell-off of shares in Boeing, reported Dow Jones Newswires. This comes as investors assess the effect of US import tariffs on major industrial companies. Banks and financial counters led the gains on the local bourse, while property stocks and precious-metal miners were under pressure. Gold miners lost ground as investors earlier piled back into equity markets, while the rand was stable. Asian markets had taken their lead from the Dow’s gains on Friday, after US nonfarm payrolls surprised to the upside. Analysts said despite the increasing prospect of interest-rate increases in the US, the outlook for global economic growth and equities was positive. "History shows that when interest rates move higher off a low base and are coupled with a strong economy, stock prices ...
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.