JSE weakens as global equity slump continues
Asian markets were sharply lower on Monday morning and the JSE noted broad-based losses as fears mount over the state of the global economy
The JSE weakened sharply on Monday morning, in line with lower global markets, amid concern that the global economy was slowing. Weak eurozone data helped prompt sharp losses on global equity markets on Friday, while a number of continuing risk events are giving investors reason for caution. Uncertainty over Brexit continues, with reports that UK Prime Minister Theresa May could soon be forced out by her cabinet. US-China trade talks continue this week, but local focus is squarely on the latter part of the week. The Reserve Bank interest rate decision on Thursday will be closely watched, but Friday is the main event, as the ratings pronouncement from Moody's Investors Service is due. At 10am the all share was down 0.83% to 55,643.4 points and the top 40 0.81%. The resources index had lost 1.54%, platinums 1.67% and industrials 0.38%. The gold index was up 0.52%. Platinum had firmed 0.7% to $851.90/oz and platinum 0.31% to $1,316.86. Brent crude was 0.33% lower at $66.74 a barrel. As...
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.