A positive mood on global markets failed to lift the JSE on Thursday, with a fall by retailers and Naspers largely responsible. Global equities were in favour after US Federal Reserve chair Jerome Powell delivered a dovish speech, which put strain on the dollar, but lifted risk assets. The all share fell 0.3% to 51,737.6 points and the top 40 0.21%. Industrials lost 0.8% and general retailers 0.64%. Banks added 1.22%, gold miners 1.53% and property stocks 1.83%. Naspers lost 2.57% to R2,820, ahead of its interim results to end-September on Friday. The group has said it expects headline earnings per share (HEPS) to rise by between 210% and 217% when compared to those of last year. Local data was downbeat, with factory- and farm-gate inflation, as measured by the annual change in the producer price index (PPI), accelerating faster than expected in October due to record-high fuel prices. The PPI for final manufactured goods came in at 6.9% from September's 6.2%. The Bloomberg consensus...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now