MARKET WRAP: JSE weakens, dragged lower by disappointing corporate results
The JSE fell on Thursday, amid a spate of corporate results, and in line with generally lower world markets.General retailers led the losses, with Massmart particularly hard hit, after it warned headline earnings per share (HEPS) could be as much as 68% lower to end-March.Gold miners firmed in safe-haven trade, however, after US President Donald Trump cancelled a planned summit with North Korean leader Kim Jong-un.The all share closed 0.6% lower at 56,699.20 points and the top 40 shed 0.5%. General retailers fell 3.81%, food and drug retailers 1.49%, resources 0.92%, financials 0.76%, and banks 0.49%.Sasol jumped 2.41% to R472.95.Barclays Africa slipped 1.16% to R158.66.Life insurer and asset manager MMI fell 3.57% to R19.18. The group said earlier that diluted core headline earnings for the nine months to end-March were down 5% on the prior period.Massmart ended the day 17.96% lower at R115. On Thursday morning it reported sales growth of 0.8% for the first 19 weeks of the 2018 fin...
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