JSE slips on Naspers as traders eye possible gridlock in Washington
The elections are expected to be key test of President Donald Trump, and could have wider ramifications for US economic and trade policy
The JSE dipped a little on Tuesday morning, with global markets producing mixed results as investors waited for the outcome of the US midterm elections. Most Asian markets were higher, although Tencent was lower in Hong Kong, with Naspers losing 2.43% to R2,854.88 in morning trade. Banks and retailers were also lower, despite a slight firming of the rand overnight. The local unit was at R14.19 to the dollar in morning trade. At 9.30am the all share was down 0.68% at 54,540 points and the top 40 had lost 0.84%. Food and drug retailers had given up 1.21%, industrials 1.11% and banks 1.03%. The elections are expected to be key test of President Donald Trump, and could have wider ramifications for US economic and trade policy in the short to medium term. Should the Republicans lose control of the House of Representatives — as expected — this could point to legislative gridlock going forward, analysts said. Markets could look kindly on this, as it would lessen the risk of radical policy ...
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