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MARKET WRAP: JSE slips in risk-off trade, with banks and retailers faring worst

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Global markets begin the week lower as fears mount that the US and China won’t bury the hatchet over trade later this week

The JSE tracked global markets lower on Monday amid concerns that the US-China trade war will get worse before it gets better.

Gold was benefiting from investor interest in safe-haven assets, as well as from the weaker dollar, but local banks and retailers were under pressure. Gold was up 1.22% to $1,415.70 an ounce and platinum 0.14% at $811.08. Brent crude was 1.13% lower at $64.55 a barrel. Woolworths dropped 1.97% to R48.23, TFG 1.58% to R182, Truworths 1.51% to R74.35, Massmart 1.4% to R63.50 and Mr Price 1.26% to R205.51.

 

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