News Formal

MARKET WRAP: JSE at six-week low as election results roll in

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Nigeria News News

Global risk-off trade has put pressure on the local bourse, while early results in the general election show the ANC’s majority has fallen below 60%

The JSE fell on Thursday, in its worst day in four months, amid risk-off global trade.

Locally, all eyes are on the elections as investors wait to see the size of the ANC’s majority. The party’s performance will be closely watched amid uncertainty regarding the ability of President Cyril Ramaphosa to push ahead with his pro-growth and anticorruption agenda. As the JSE closed the ANC held 56.88% of the vote, with about 42% of ballots counted. The rand was 0.4% weaker at R14.4275/$.

Gold was up 0.32% to $1,284.80/oz while platinum was down 1.36% to $850.37. Brent crude had fallen 0.74% to $69.68 a barrel.

 

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 NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

MARKET WRAP: JSE slips in risk-off trade as Naspers leads lossesInvestors are wary after an increase in US-China trade tension, with the Shanghai Composite experiencing its worst day in over three years
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE slips in risk-off trade as Naspers leads lossesInvestors are wary after an increase in US-China trade tension, with the Shanghai Composite experiencing its worst day in over three years
Source: TimesLIVE - 🏆 28. / 59 Read more »

MARKET WRAP: Banks and financials gain despite fall in randThe all share gained 0.37% and the top 40 0.42% with banks and financials standing out as the biggest contributors
Source: TimesLIVE - 🏆 28. / 59 Read more »

MARKET WRAP: Rand biggest gainer among emerging marketsThe JSE had a good day, with the all share rising to 59,335.9 points, with platinum miners leading the way
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Rand biggest gainer among emerging marketsThe JSE had a good day, with the all share rising to 59,335.9 points, with platinum miners leading the way
Source: TimesLIVE - 🏆 28. / 59 Read more »

Business Maverick: Yuan Plunges, U.S. Stock Futures Drop on Trade War: Markets WrapChina’s yuan plunged the most in more than three years and equity markets were roiled after President Donald Trump’s threat to increase tariffs on Chinese imports cast a cloud over talks this week that were expected to finalize a trade deal.
Source: dailymaverick - 🏆 3. / 84 Read more »

Rand a little firmer as market eyes US-China trade warThe rand weakened on Sunday after US President Donald Trump threatened to tariffs on Chinese imports, although local focus is on the elections
Source: BDliveSA - 🏆 12. / 63 Read more »