MARKET WRAP: JSE closes lower as traders await US Fed interest-rate stance

09 July 2019 - 18:24The JSE closed lower on Tuesday, tracking global markets as traders await any further signs regarding the trajectory of US monetary policy, placing pressure on global risk assets.

Traders will be monitoring developments in the US-China trade dispute as the two economic superpowers are set to resume negotiations this week. Brait dropped 4.75% to R18.25, despite the investment holding company saying on Monday that its UK retailer, New Look, was in a better position for a turnaround in its performance.

Shortly after the JSE closed, the Dow was 0.30% lower at 26,725,22 points, its third consecutive negative day. In Europe, the FTSE 100 had fallen 0.14% and France’s CAC 40 0.32%.

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