The JSE was weaker on Wednesday morning as the sell-off in the resources market more than offset a fairly solid session for banks and listed property.
The all share index was down 0.37% to 67,390.10 points in midmorning trade, as the gauge of large resources stocks fell 1.94%. Banks and listed property rose 1.65% and 1.54%, respectively, with the latter sector boosted by Vukile Property Fund after its full-year results showed an improvement in foot traffic at its shopping centres. This was despite a 20% drop in net rental income due to rental relief granted to tenants as a result of lockdown-imposed measures.
The release of US inflation data on Thursday will be the dominant driver of market psychology. The global market remains divided on the outlook for US inflation, which rose its highest level in 12 years in April on annual basis, sparking jitters that the US Federal Reserve might rein in its loose monetary policy.
I will always tell you about kevinScott_FX he's one in a million I make money from home despite the world pandemic inbox him to know more about his crypto/trade offers .🙏🏻🙏🏻