JSE set for mixed start on Monday after ANC victory at the polls
Global stock markets were lower amid concerns about the ongoing trade dispute between the US and China
The JSE could get off to a mixed start on Monday after the ANC maintained its majority in South Africa’s elections, and as Asian markets edged lower. Even though the ANC’s victory, with 57.5% of the vote, was less resounding than in previous elections, the margin is seen as wide enough to strengthen President Cyril Ramaphosa’s hand as he seeks to stamp out corruption and revive the economy. “We view the result as providing a mandate for Ramaphosa to continue his reform and anticorruption drive, which is positive for SA investor confidence,” Anchor Group CEO Peter Armitage said in a note on Sunday. “These results should also, in turn, see strong inflows into the South African equity market,” Armitage said. Global stock markets were lower on Monday amid concerns about the ongoing trade dispute between the world’s two largest economies. The US raised tariffs on Chinese goods on Friday. “The market’s focus will still be on any developing headlines about China’s possible retaliatory move...
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