The JSE started the week on a negative note, with the majority of indices lower on the day and industrial counters and large-cap stocks faring worst.Global markets in general, most commodity prices and the rand were all under pressure from a spike in risk-off sentiment due to the prospects of further escalation of the US and China’s trade conflict.The rand slid more than 1% against a resurgent dollar, but rand hedges failed to benefit, although property stocks and gold miners earlier found some support before closing lower. Gold miners had gained from safe-haven interest, while US bond yields were lower on the day.Local factors took a back seat, but the financial problems of SA’s state-owned enterprises continued to be in the spotlight, with reports that the Treasury had approached the private sector to secure lending."The time has come for staffing cuts, restructuring and privatisation … politics in this country is going to get tougher," Vestact’s Paul Theron said.A 2% fall in the ...
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