JSE set for a mixed start on Tuesday
Brewing global trade tension between the US and Europe and relatively weak results from US banks are likely to weigh on sentiment
The JSE is likely to open mixed on Tuesday as risk appetite cools amid brewing global trade tensions and following relatively weak results from US banks. Singapore-based OCBC Bank said in a note on Tuesday that traders could shift into risk-off mode on the day after earnings from Goldman Sachs and Citigroup prompted the S&P 500 index to slip from a six-month high overnight. Goldman Sachs reported lower quarterly revenues in most key business units and said first-quarter profits dropped 20%. Meanwhile, the US, which is reportedly nearing a trade deal with China, is shifting its attention to trade negotiations with Japan and Europe. Some analysts believe the rise in trade protectionism could hamper the global economy.
PODCAST: Understanding the vulnerability of the JSE...
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.