MARKET WRAP: JSE ends day flat in mixed trade
Shoprite’s results drag retailers down, but numbers from Imperial and Harmony please the market
The JSE ended Tuesday flat in mixed trade amid indications that US President Donald Trump is unhappy with the Federal Reserve and indications that the US is set to slap China with a new set of higher tariffs.Emerging-market sentiment was subdued for most of the day on an anticipated higher opening on the Dow, which had risen 0.27% by the JSE’s close. European markets were mixed with the FTSE 100 0.38% lower while the DAX 30 was 0.47% higher.Worsening relations with the US have spurred a sharp sell-off in Turkish assets and exposed economic weaknesses, such as high external debt and rampant inflation, BlackRock analysts said in a note. "We see many of these problems as unique to Turkey, yet other emerging markets have felt the heat."BlackRock remains leery of markets with high debt and deteriorating growth, including SA, and see long-term opportunities in regions with sound fundamentals, such as emerging-market Asia.The dollar weakened on Trump’s tweet that he was "not thrilled" with...
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