JSE flat on subdued global trade and mixed local news
Local purchasing managers’ index data was downbeat, but news of a lower-than-expected fuel price increase in September improved sentiment a little
The JSE was little changed on Monday, with global markets subdued by a public holiday in the US where exchanges were closed. A fall by Naspers offset broad-based gains on the local bourse.Local news was mixed, while there were few major corporate releases to give the market direction.Asian markets started the week lower, with some risk-off sentiment after US President Donald Trump said at the weekend there was no need to keep Canada in the current trilateral trading bloc with Mexico.Naspers fell 1.86% to R3,250, tracking losses in Chinese associate Tencent, in which it owns about 31%.Volumes were thin, at R13bn, compared to the daily average of R24bn.The all share firmed 0.07% to 58,711.2 points and the top 40 fell 0.05%. Platinums firmed 1.93%, general retailers 1.18% and gold miners 0.68%. Industrials fell 0.58%.Local news was mixed, with the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declining from a solid 51.5 index points in July to 43.4 in August."The fact that ...
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.