Bourse gives up most of the previous day’s gains after mining companies were hit by weaker commodity prices
All the Nedlac parties have started afresh on President Cyril Ramaphosa’s much-trumpeted social compact, but to what end?
Gauteng MEC asks mayor Randall Williams to respond to allegations over orders to support a bid proposal for refurbishment
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
Landlord will sell some of its sectional title assets to owner-occupiers to reduce its exposure
Wage increases above the Reserve Bank’s inflation target range of 3-6% raise the prospect of a wage price spiral with second-round effects on inflation, Bank deputy governor warns
The claim by Sars that it costs the country R31bn is wrong — the real cost is about R4bn a year
Federal Reserve officials said it may take longer than expected for inflation to ease, minutes from latest meeting show
Fast bowlers Kagiso Rabada and Anrich Nortjé make full use of conducive conditions to rip through the England top order
German traffic police are investigating the cause of the incident, which police say involved an autonomous vehicle
The JSE looks set to open to weaker Asian markets on Tuesday morning, and may extend its four-session losing streak, as investors consider the threat posed by Omicron as well as possible tightening of US monetary policy.
China has reported its first Omicron case, the UK is worried about a surge in infections, and another study has confirmed that vaccines are less effective against the new variant.
There is also caution ahead of the US Federal Reserve’s policy announcement on Wednesday, when it is widely expected to indicate it is accelerating monetary policy tightening, given inflation surged to an almost four-decade high in November.
The JSE has weakened consistently since last Tuesday, when it, along with its global peers, staged a relief rally on news that Omicron seems less deadly than the Delta variant. Since touching almost 73,000 points last week, the local bourse has since given back 2%.
In morning trade the Hang Seng was down 1.26%, Japan’s Nikkei 0.83% and the Shanghai Composite 0.31%.
Tencent, which gives direction to the JSE via the Naspers stable, had given back 1.24%.
Gold was flat at $1,786.83/oz while platinum was little changed at $930. Brent crude had slipped 0.22% to $74.08 a barrel.
The rand was little changed at R16.02/$.
The corporate calendar is bare on Tuesday, while in economic news the FNB/Bureau of Economic Research consumer confidence index for the fourth quarter will be released later. The index partially recovered to -10 index points in the third quarter of 2021, after a reading of -13 index points in the second. The historical long-term average is +2.
Despite the violent protests and rampant looting in July, consumers, and by extension consumer spending, appeared resilient, FNB economists said in a note last week, with consumers expecting an improvement in their finances over the next 12 months.
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.