MARKET WRAP: JSE ends July with broad-based gains, led by retailers
The local bourse ends the session higher but the month lower, with Naspers under pressure on the day due to disappointing Chinese data
The JSE gained on Tuesday, with most indices pushing higher, while gold miners and Naspers came under strain.Global markets were mixed, as was local data, but domestic equities continued to find support from a stronger rand.The all share rose 0.21% to 57,432.5 points and the top 40 0.17%. General retailers gained 1.66%, resources 1.37% and banks 1.13%. Industrials fell 0.63%. The all share lost 0.31% in July.Earlier, SA’s unemployment rate was reported at 27.2% in the second quarter from 26.7% in the first, while SA’s trade surplus for June was more than twice market expectations at R12bn.Disappointing employment statistics suggest the economy remains depressed, said Nedbank Group Economic Unit analysts. Activity is, however, likely to pick up in the rest of the year.Global markets were mixed, with sentiment dented somewhat in the morning session when the Chinese manufacturing purchasing managers index hit a 14-month low.Tencent, Naspers’s Hong Kong-listed associate, fell more than ...
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