JSE rises in lacklustre trade ahead of public holiday
A lack of clear direction on global markets and Thursday’s public holiday kept a subdued tone on the local bourse
The JSE closed marginally higher on Wednesday, with global markets mixed ahead of the Women’s Day public holiday, and with losses by local miners mostly offsetting gains in other indices. Investor focus was torn between rising US-China trade tensions and upbeat US earnings reports, with the Dow lower shortly after the JSE closed. Local data was light, with the South African Chamber of Commerce and Industry (Sacci) business confidence index gaining one index point in July 2018 to 94.7, compared to 93.7 in June 2018. However, the BCI remained 0.6 index points below the 95.3 of July 2017. "Although there are still major economic challenges facing SA, it appears the downward trend in the business climate since February 2018, has lost its momentum and confidence could turn more positive," Sacci said. The all share firmed 0.14% to 57,485.6 points and the top 40 rose 0.07%. General retailers added 0.8% and banks 0.51%. Platinums fell 1.39%. BHP fell 0.63% to R297.55, despite earlier announ...
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.