JSE slips as firmer dollar weighs on banks and miners

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business Business Headlines News

Upbeat US corporate reports sent US markets to a record high on Tuesday, but a firmer dollar puts pressure on interest-rate sensitive stocks and miners

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

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.

JSE headed for slow start on TuesdayUS stocks ended only marginally higher on Monday, while Asian stocks were also treading water on Tuesday morning
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE could open weaker on Wednesday as Asian markets slipUS markets closed at record highs overnight on favourable earnings from Twitter, Hasbro and Lockheed Martin
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE opens flat as Naspers offsets other lossesNaspers and Sasol are helping to moderate losses for most shares on Tuesday morning, as the market digests a jump in the oil price
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE extends winning run to six consecutive weeksThe all share has gained 4.89% so far in April and is now up 12.3% in 2019
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE flat as banks offset gains in iron-ore minersLocal and international data on the day was positive, but BHP and Kumba Iron Ore slump, the former after a downbeat production report
Source: BDliveSA - 🏆 12. / 63 Read more »

Standard Bank urges ‘no’ vote on landmark climate risk resolutionShareholder activists wield Companies Act section to table the first ever shareholder resolution at a JSE-listed company
Source: BDliveSA - 🏆 12. / 63 Read more »