MARKET WRAP: Widespread losses drive JSE down
Global equity markets remain under pressure due to concern about faltering economic growth, with local platinum miners faring worst
The JSE slumped in broad-based losses on Monday, as investors shied away from risky assets amid growing concern that the global economy was faltering. There are plenty of events this week providing a justification for caution, with local focus on Thursday's SA Reserve Bank interest-rate decision, and Friday's announcement by Moody's Investors Service. Asian and European markets were sharply lower, still weighed down by poor eurozone economic data on Friday. Some focus was on the UK, where Prime Minister Theresa May is seemingly battling to hold on to her position. Reports have suggested that May has offered to resign, should rebellious members of her party stop opposing her draft Brexit deal. The all share fell 1.32% to 55,367.1 points and the top 40 1.27%. Platinums fell 4.45%, property stocks 2.44%, food and drug retailers 1.49% and industrials 1.32%. As the JSE closed gold was up 0.57% at $1,320.31/oz and platinum 0.97% to $854.19. Brent crude was flat at $66.92 a barrel. The Dow...
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