JSE tracks weaker world markets as risks mount
Concerns about recession in the US as well as domestic woes over Eskom and government debt continue to weigh on local risk assets
The JSE was lower on Friday, in line with most of its global peers, as concerns over the state of both the US and local economy mount. Disappointing US retail sales figures has raised concerns about a recession in that country in 2019, while local retail sales and mining data for December also undershot expectations this week. The rand was weaker on Friday morning, weighing on local banks, although general retailers and food and drug retailers had edged higher. At 10am the all share was down 0.48% at 54,267.3 points and the top 40 has fallen 0.5%. Banks fell 1.11% and industrials 0.72% General retailers added 0.5% and food and drug retailers 0.43%. Rand hedge AB InBev was down 1.26% to R1,069.09 and Richemont 0.5% to R100.33. Gold Fields was down 2.76% to R51.12, having earlier reported that its net loss for the year to end-December widened to $348m from the prior period's $19m. A six-week strike at the company's South Deep mine weighed on performance.
FirstRand fell 1.11% to ...
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