MARKET WRAP: JSE slips on trade war risks
US President Donald Trump’s comments that he expected to levy further tariffs on China rattled global markets, while local data also disappointed
A risk-off tone in global markets weighed on the JSE on Tuesday, with banks and financials benefiting from a stable rand, while miners were under pressure. Comments by US President Donald Trump that he expected to levy additional tariffs on China has soured the mood on global markets, with investors watching a meeting between Trump and his Chinese counterpart, Xi Jinping, at a Group of 20 (G20) summit later this week. The all share closed 0.65% lower at 51,354 points and the top 40 0.76%. General retailers added 0.76%. Platinums fell 2.26%, resources 1.34% and industrials 0.78%. The week had started off slightly positively, with markets welcoming a draft Brexit deal at the weekend and signs the Italian government was willing to climb down on its demands to increase its budget deficit. Earlier, the Rand Merchant Bank (RMB) and University of Stellenbosch's bureau for economic research business confidence index fell to 31 points in the fourth quarter from 34 in the third. Sentiment dec...
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