The JSE posted sharp and broad-based losses on Thursday morning, in line with global markets, with investors wary about escalating trade conflict between the US and China. US President Donald Trump has threatened to levy additional tariffs on Chinese imports on Friday, saying the world’s second-largest economy “broke the deal” even as negotiations continue on Thursday. Asian and European markets were down sharply on Thursday morning, although there is still some optimism that a deal between the US and China will be reached in coming days. Amid broad-based losses, diversified miners fared worst on the JSE, weighed down by a sharp drop in oil prices. At 10am the all share was down 1.59% to 57,119.9 points and the top 40 had lost 1.73%. Resources fell 2.08%, food and drug retailers 1.93%, and banks 1.85%. Gold was up 0.33% to $1,284.86/oz, while platinum lost 0.56% to $857.24. Brent crude was down 0.77% to $69.66 a barrel. Markets were pricing in the limited risk of talks breaking down...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now