The JSE opened weaker on Friday, with banks and financials showing little reaction to earlier firmness in the rand, with Naspers leading the losers on volume. Platinum and gold stocks were lower on softer metal prices. The platinum price lost 0.68% to $834.05 an ounce and gold 0.41% to $1,241.65. Brent crude was down 1.1% to $73.56 a barrel as oil prices head for the biggest weekly loss in almost five months amid an escalating trade war between the US and China and as Libya is expected to boost output. Earlier, the local market was under pressure due to subdued manufacturing and mining data in May, with global factors driving sentiment. The market was attempting to find direction amid choppy trade in forex markets over the past month. Concerns about a global trade war between China and the US have generally been negative for emerging markets, but some indications that a war could be defused through further talks supported the rand on Thursday. The rand was steady at R13.30 to the do...
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