MARKET WRAP: Widespread losses drive JSE down

The JSE slumped in broad-based losses on Monday, as investors shied away from risky assets amid growing concern that the global economy was faltering.

Asian and European markets were sharply lower, still weighed down by poor eurozone economic data on Friday. Some focus was on the UK, where Prime Minister Theresa May is seemingly battling to hold on to her position. Reports have suggested that May has offered to resign, should rebellious members of her party stop opposing her draft Brexit deal.

As the JSE closed gold was up 0.57% at $1,320.31/oz and platinum 0.97% to $854.19. Brent crude was flat at $66.92 a barrel. Growthpoint lost 2.97% to R23.51. It said earlier that its board had decided not to allow investors to buy new shares with the interim dividend to end-December, and shareholders would instead receive cash. This decision was made due to current market conditions.Naspers lost 1.6% to R3,225.58, having earlier said it planned to list its nonSA internet operations in Amsterdam, including its prized stake in China’s Tencent. There would be a secondary listing on the JSE.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE flat as gloomy global data dents sentimentEuropean markets see sharp losses after disappointing eurozone data, but some local stocks push higher anyway Fueled by Eskom.
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE climbs 1% led by NaspersMeanwhile, the oil price remains elevated by promises of extended production cuts by Saudi Arabia, the world's largest exporter
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Miners help JSE limp higher as banks slumpThe local bourse climbs above 57,000 points for the first time since September, but gains are pared after warnings of continued load-shedding
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE slips 1%, tracking weaker global marketsJSE suffered broad-based losses in line with global markets, although platinum miners shone as palladium pushed to a record high
Source: BDliveSA - 🏆 12. / 63 Read more »

A junk call by Moody's would be no shocker for bond market'Although there is a risk of SA losing its final investment grade rating [from Moody's], the elevated yield suggests we are very much priced in as junk status,'
Source: SundayTimesZA - 🏆 47. / 51 Read more »

Rand firms in mild emerging-market recoveryThe local currency is slightly stronger against the pound on Monday morning, amid reports that UK Prime Minister Theresa May may be on her way out
Source: BDliveSA - 🏆 12. / 63 Read more »

Cornering the market of African textilesMozambican entrepreneur Wacy Zacarias started Karingana Wa Karingana textiles to create authentic African prints: “I ended up figuring out that African textiles were not, in fact, really African. Mostly they were produced in China or Holland”
Source: City_Press - 🏆 7. / 72 Read more »