SA recorded a trade surplus of R4.42bn in June, compared to a downward revision of R1.7bn in May, slightly above analyst expectationsThe JSE closed lower on Wednesday as investors await the US Federal Reserve’s interest-rate decision, with the expectation that the central bank will ease monetary policy amid concern over a slowdown in global economic growth.
The National Treasury said on Wednesday that it would increase the size of its weekly bond auctions to fund Eskom and the anticipated tax-revenue shortfall. The Eskom bailout of R59bn has been labelled as credit-negative by Moody’s Investors Service, which is the only major global ratings agency that has not placed SA below investment grade.
The JSE all share fell 0.8% to 56,784.60 points and the top 40 0.8%. Gold miners were down 4.45% and resources 1.05%.
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