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MARKET WRAP: JSE closes lower as markets digest US employment data

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The chances of an interest-rate cut in the world’s largest economy have fallen, putting pressure on the rand and local shares

Non-farm payrolls —

The unemployment rate rose to 3.7% in June from 3.6% in the previous month, while average wages grew 0.2%, unchanged from May. The benchmark R186 government bond was weaker, with its yield rising 9.5 basis points to 8.16%. Bond prices move inversely to bond yields. Among gold miners, Gold Fields fell 2.27% to R71.93, Sibanye-Stillwater 2.19% to R15.60, AngloGold Ashanti 1.46% to R247.43, and Harmony 0.64% to R30.86.

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