JSE slips in broad-based losses, but retailers and gold miners stay positive
The JSE fell on Friday afternoon, in risk-off trade on global markets, concluding yet another disappointing week for the local bourse.Fears of escalating trade conflict between the US and China continues to dampen sentiment, with the latest tariff move by the US rattling Asian and European markets on Friday.The rand was, however, generally firmer on a weaker dollar, providing some support for banks, which ended flat. Local miners gained as investors piled into safe-haven assets.Property stocks were under pressure amid rising US bond yields. Retailers, however, had a good week, with the general retailers index firming 2.02%. They benefited from better-than-expected inflation numbers earlier in the week, which have bolstered chances the Reserve Bank will cut interest rates next week.Sentiment towards the retail sector was also improved by a High Court ruling in favour of Truworths, Mr Price and Foschini, that stated proof of income was not a requirement in the issuing of store credit....
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