JSE starts week lower in jittery trade as global markets fear further trade wars
The JSE started the week lower on Monday, recording broad-based losses as poor sentiment toward emerging markets drove most of the major indices down.Rand hedges pared earlier gains by the close, after trading strongly during the day in expectation of further weakness in the local currency. The rand was largely unchanged at about R15.20 to the dollar as a firmer euro kept a lid on further losses.The rand remained steady despite finance minister Nhlanhla Nene’s warning that tax revenue collection might come under further pressure in 2018 because of the recession.Naspers struggled to find momentum after falling 3.5% last week, losing another 1.09% to R3,117.Platinums were lower despite the metal price rising 1.6% to $795. It is still down 14.3% in 2018. Resources rose marginally near the close.The all share is now firmly in weaker territory, having lost nearly 5% in 2018 so far, after rising above 60,000 points at the end of August, recording its first gains from the slump in the midd...
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