JSE closes softer after flat session Fri, 15 Nov 2019 19:24:40 +0200
The JSE closed softer on Friday as it lost momentum towards the close led by losses in the industrials and resources sectors.
The JSE traded mostly flat on Thursday before it closed softer as stocks struggled for direction.
The rand came under pressure as a result of this data as it reached a session low of R15.00/$.
The local bourse edged higher on Tuesday on the back of broad-based gains across all the major indices.
Most analysts may be predicting South Africa will lose its last investment-grade rating, but derivatives traders couldn't care less.
The JSE fell on Monday as it tracked other global markets lower which were dragged by increasing violence in Hong Kong, as well as US-China trade concerns.
The JSE fell on Friday led by declines in certain blue-chip stocks which fell on the back weaker earnings and negative sentiment.
The changes will affect 150 jobs and will take place in the first half of 2020, according to a statement from the London-based lender.
The JSE retreated on Thursday as it went against the tide in other major global indices.
The JSE advanced for a third consecutive session as it closed firmer on the back of broad-based gains across all the major indices.
Local stocks remained buoyant, extending gains from the prior session where positive sentiment was driven by optimism of a trade deal between the US and China.
The JSE edged higher on Monday as it tracked other global markets higher, inspired by trade optimism.
The rand climbed and government bonds gained the most in 20 months after South Africa clung to its last investment-grade credit rating.
SA clung to its last investment-grade credit rating.
The JSE extended its gains on Friday led yet again by gains on the resources index.
The medium term budget speech appears to not have satisfied the expectations of the market as the rand softened and SA shares came under pressure.
Gold has been on the backfoot again on Tuesday to trade at $1 487, down $7 from Monday’s levels.
Equity markets continued to rally on the back of US-Sino trade talks, which could see an easing of trade hostilities between the two largest economies in the world.
Wall Street stocks advanced following upbeat comments from US trade officials about China trade talks while investors digested mostly solid corporate earnings.
Stocks declined on the Hang Seng with the biggest impact for the JSE being Tencent Holdings which has registered consecutive declines throughout this trading week