MARKET WRAP: JSE tracks losses in US and EU markets
Downbeat sentiment in global markets pulled the JSE lower as the US and China continue their trade spat
The JSE all share closed lower on Monday as concerns over the Chinese economy weighed on global markets. Asian stocks reversed earlier gains after the US tentatively ended the longest government shutdown in history. All eyes remain on the US-China trade talks to see if the two largest economies in the world can settle their differences. Markets are now awaiting the outcome of the US Federal Reserve’s policy meeting this week. The JSE ended Monday’s trade 0.52% lower at 53,767.5 points, with the top 40 falling 0.61%. The gold index added 2.02% in the risk-off environment. Petra shares fell in London on a disappointing trade update. The company reported an increase in its debt burden, citing low diamond prices from its capital-intensive newly developed Cullinan mine. Petra CEO Johan Dippenaar said the average price for the full year through to the end of June was expected to be $120/carat, making the mine cash-flow positive. Its net debt rose to $557 from $521 in June 2018. MMI Holdin...
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