MARKET WRAP: Poor economic data pushes JSE to six-week low

The JSE closed lower on Wednesday, with poor local and international economic data ultimately weighing on local equities.

Sentiment turned negative later in the day, following the release of downbeat US retail sales data for April. Retail sales fell 0.2% compared to March, while the market had expected 0.2% growth. The all share fell 0.34% to 56,043.2 points and the top 40 lost 0.4%. Banks fell 1.09% and general retailers 1.61%. Gold miners added 1.35% and property 0.38%.

Spar added 0.11% to R198. It said earlier that group turnover for the six months to end-March rose 8.6% compared the prior corresponding year, with the retailer upping its interim dividend 5.2%. Gemgrow was unchanged at R5.55. It reported on Wednesday that total dividends for the six months to end-March edged 1% lower to R178.3m, while finance charges grew 71% to R91.7m and property expenses 23% to R163m.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

MARKET WRAP: JSE at six-week low as election results roll inGlobal 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%
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE has worst week in 14 months amid US-China trade jittersBy the close of trade on Friday the JSE was down 4.31% for the week, falling every day to Thursday
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE weakens despite some post-election supportAn escalation in the US-China trade war put paid to earlier gains, with only banks and retailers avoiding the worst of the rout
Source: SundayTimesZA - 🏆 47. / 51 Read more »

MARKET WRAP: Rand firmer despite employment numbers6.2-million people in the country are actively looking for work.
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Stocks, Commodities Tumble as China Strikes Back: Markets WrapU.S. stocks and commodities tumbled after China retaliated with higher tariffs on a range of American goods. Treasuries jumped with the Japanese yen on demand for haven assets
Source: dailymaverick - 🏆 3. / 84 Read more »

OPINIONISTA: Investing in the stock market: EndgameThe JSE has been under pressure for the past few years, but the result does not have to mimic the Avengers movie Infinity War. A happy ending is still possible here. Over to you President Cyril Ramaphosa.
Source: dailymaverick - 🏆 3. / 84 Read more »

Rand, bond market appreciate after elections declared free & fairChief economist at Efficient Group Limited Dawie Roodt said the financial market has reacted positively because re-election of the ruling party would come with some level of stability. Hopes are on oil to bond also not to forgot Eskom What about fuel
Source: ewnupdates - 🏆 30. / 53 Read more »

China's Premier underlines tax cuts to benefit enterprises, boost market vitality - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Chinese Premier Li Keqiang has called for more efforts to implement tax and fee cuts in a bid to let enterprises enjoy concrete benefits and further boost the vitality of market entities.
Source: SABC News Online - 🏆 32. / 51 Read more »