The JSE fell on Tuesday, tracking losses on major global markets, as US President Donald Trump fired off a series of tweets criticising China’s trade practices.
The rand, however, was fairly firm earlier in the day, but lost some ground against the dollar when Eskom’s financial results were released. As the JSE closed it was 0.16% weaker at R14.1853/$. The all share fell 1.37% to 51,241.6 points and the top 40 1.48%. This was the biggest one-day drop for the all share since May 23.
Gold was up 0.16% at $1,428.84/oz while platinum had lost 1.15% to $870.79. Brent crude was 0.25% higher at $64.03 a barrel.Shoprite gained 5.75% to R153.97. The retailer said earlier it expected revenue growth of 3.2% in the year to end-June, higher than the Bloomberg consensus expectation of 2.2%. Excluding the effect of hyperinflation in Angola, turnover was up 3.6%.
Hammerson lost 7.88% to R41.29, extending Monday’s 6.25% slump. It said earlier that rental income from flagship UK properties fell 6.8% on a like-for-like basis in the six months to end-June.
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