JSE closes weaker on renewed global trade jitters, while oil price falls
The JSE closed weaker on Thursday in renewed risk-off trade following a weak opening on the Dow and as European markets were all in the red.Concern about an escalating global trade war increased after the EU announced counter-tariffs against the US in response to those already announced by the world’s largest economy.At the same time the US has threatened to implement a further $200bn in tariffs on China, should it retaliate against earlier tariffs."Our bourse continues to take its cue from tentative trade in global markets on the US and China trade-war narrative," said IG SA senior market analyst Shaun Murison.He said the dollar had strengthened, which weighed on commodity prices in general. "Gold shares were among the weaker performers on the day," Murison said.The Dow was 0.9% lower at the JSE’s close and set to close weaker for an eighth straight session. The FTSE 100 was 0.9% lower following a rebound in the pound after the Bank of England earlier kept rates unchanged. However,...
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