JSE treads water as risk events loom
Global markets lack clear direction as investors assess the prospect of a resolution to the US-China trade dispute and sanctions on Iran
The JSE was little changed on Monday morning, with international markets lacking momentum, as risk events hover over the market. Last week was a good one for equities, which surged on better-than-expected US corporate earnings reports, and easing concerns over the damage he US-China trade conflict is likely to inflict on global trade. Naspers on Monday was down 1.58% to R2,853.17, giving up some of the 13.29% surge the market heavyweight experienced last week. The all share slipped 0.08% to 54,228.2 points and the top 40 0.06%. Banks were down 0.52% and industrials 0.38%, while gold miners added 1.94%. Global focus this week is on the expected imposition of sanctions on Iran over that country’s foreign policy and nuclear programme, as well as US midterm elections on Tuesday. The market is also digesting conflicting signals from the White House on trade talks. Locally, mining and manufacturing data on Thursday will be closely watched for signs that SA has exited its technical recessi...
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