MARKET WRAP: JSE extends losing streak to third week

The market may increasingly price in a 50bps cut, and all that stands in the way of this is US economic data between now and the Fed meeting, said Vanguard Markets managing partner Stephen Innes.

Tech stocks were under pressure during the week, amid a stand-off between Japan and South Korea, with the former restricting some key technology components to the latter, amid a spat over compensation for Second World War era forced-labour victims. The all share closed flat on Friday at 57,277.3 points while the top 40 was also little changed. Gold miners fell 1.02% and industrials 0.37%. The resources index added 0.55%.

The Dow was up 0.52% at 27,232 points; in Europe, the FTSE 100 was flat, the CAC 40 had added 0.24%, while the DAX 30 was down 0.11%.Pan African Resources jumped 8.24% to R1.97. It said earlier that gold production increased by 54.1% in the year to end-June.

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