JSE slips slightly in cautious trade
The prospect of market volatility in coming days ensured a subdued start to the week, with miners and locally focused stocks faring worst
The JSE was softer in thin volumes on Monday, with a weaker rand giving the local bourse much of its direction.Daily turnover was R10.8bn compared to the daily average of about R24bn.The rand was weaker than the psychologically important R13/$ level, with markets seemingly brushing off the fallout from the Group of Seven (G-7) summit at the weekend, where US President Donald Trump left early.Banks were lower on the day, as were small-and medium-cap companies. These companies are primarily dependent on economic conditions in SA.Rand hedges were buoyant, however, as was market heavyweight Naspers.The rand faces significant risks this week, with monetary policy updates from both the US Federal Reserve and European Central Bank expected.A meeting on Tuesday between Trump and North Korean leader Kim Jong-un also has the potential to rattle markets.The local corporate results calendar is somewhat light in comparison, with some analysts expressing concern that real dividends declared were ...
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.