The JSE slipped in broad-based losses on Wednesday morning, as positive US corporate earnings reports failed to spark risk-on global trade.
Diversified miners and retailers were under the most pressure, with the former reacting to the oil price easing off a six-month high reached on Tuesday. A firmer dollar environment generally puts pressure on miners, as it makes commodities more expensive for those buying in other currencies. Load-shedding, tax increases, fuel price increases and prolonged strikes in some sectors all weighed on confidence, FNB chief economist Mamello Matikinca-Ngwenya said.
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