MARKET WRAP: JSE slips as food and drug retailers suffer big fall

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Food and drug retailers dropped 3.06%, its worst fall since January 30

20 August 2019 - 18:29The JSE slipped on Tuesday in line with most major equity markets, with retailers under the most pressure after downbeat full-year results from Shoprite.

There was also some caution ahead of the release of US Federal Reserve meeting minutes on Wednesday, as well as Fed chair Jerome Powell’s speech at the Jackson Hole economic symposium on Friday. Markets have already priced in at least two further US rate cuts in 2019. Senior market analyst at Oanda Craig Erlam said the markets may have set themselves up for disappointment, considering Powell’s somewhat hawkish tone in the past.

The JSE all share fell 0.19% to 54,280.80 points and the top 40 0.21%. Resources lost 0.64% and industrials 0.15%. BHP Group fell 2.66% to R323.32. The global mining company earlier declared a dividend of $0.78 for the full year to end-June.

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 MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE in broad-based recovery amid Chinese stimulusNews China had lowered credit-costs for local businesses helps cheer local markets, with local diversified miners faring best on the day
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE subdued as global market caution prevailsMarkets await direction from the US Federal Reserve, with local banks shrugging off the rand's overnight push to R15.49/$ on Tuesday morning
Source: BDliveSA - 🏆 12. / 63 Read more »

Retailer Choppies plans to exit SA marketBudget retailer says closing its 88 stores in the country is an appropriate strategic decision
Source: BDliveSA - 🏆 12. / 63 Read more »

‘Egos’ behind drop in Old Mutual’s market valueAdvocate Dali Mpofu tells high court that board members 'put egos ahead of fiduciary duty'
Source: BDliveSA - 🏆 12. / 63 Read more »

Sasol results delay wipes R8bn off its market valueIn case you missed it | Sasol results delay wipes R8bn off its market value 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Retailer Choppies plans to exit SA marketBudget retailer says closing its 88 stores in the country is an appropriate strategic decision
Source: BDliveSA - 🏆 12. / 63 Read more »