MARKET WRAP: JSE starts week lower amid trade-war fears and tech-stock retreat
The JSE started the second quarter on a negative note on Tuesday, as global trade-war concerns and a faltering recovery in tech stocks kept the market on the back foot.Market sentiment was further dampened after the latest Absa purchasing managers index (PMI) dropped back below the neutral 50-point mark in March, after encouraging improvements during the first two months of the year. The index shed 3.9 points to 46.9 from 50.8 in February.Mining stocks led the declines as the dollar recorded marginal gains against the euro, but losses were across the board, with banks also sharply lower. European markets ended the day down, but the Dow was 0.7% up at the JSE’s close.The all share lost 1.1% to 54,864.80 points and the top 40 1.26%. The gold index shed 2%, the platinum index 1.77%, resources 1.5%, banks 1.46%, financials 1.29% and industrials 0.84%.A promising recovery among property stocks, with troubled Resilient gaining 3%, fizzled out by the close with Growthpoint off 1.44% at R28...
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