JSE slips amid spate of disappointing earnings reports
Global markets were reacting to some disappointing news out of China on Thursday, while US officials have reminded the market that the US-China trade war is far from over
The JSE weakened on Thursday morning, although platinum miners continued their gains, amid further signs that the US-China trade war was damaging global economic prospects. As the Chinese manufacturing purchasing managers index (PMI) earlier fell to a three-year low, while investors were also digesting comments from US officials that a trade deal with China in coming weeks was not assured. This was putting pressure on sentiment, analysts said, with focus now shifting to economic data releases, including the local balance of trade figures for January, and US GDP numbers for the fourth quarter of 2018. At 10am the all share was down 0.72% at 55,892.3 points and the top 40 0.81%. General retailers were down 1.22%, banks 1.13%, industrials 0.77% and food and drug retailers 1.08%. Platinum miners were up 2.67%. Gold was up 0.16% at $1,321.71/oz while platinum was flat at $868.78. Brent crude was down 0.54% at $65.96 a barrel. There was a series of corporate releases on Thursday morning, ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.