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 ...
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