for subscribers

Local equities close lower in volatile trade

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - Equities on the JSE closed weaker after a volatile trading session which saw the ALSI Futures trading within a 402 point range, eventually closing in the red, down 0.18%.

Investors were relatively tentative as they await the outcome of the UK general elections. Locally we had economic data releases for Manufacturing Production and Mining Production. Manufacturing Production year-on-year contracted further than expected, indicating a decline of -4.1% on the back of an estimate of -1.6%, however the month-on-month figure did indicate an increase of 2.3%, whereas the estimates were for a decrease of 0.2%.

Mining Production data year-on-year showed an increase of 1.7% which was less than the forecast of 6.9%. The month-on-month number did however show a decline of -1.6%, on the back of a forecast of it being unchanged. This data further reiterates that our economy is not performing as well as it should be. Weak global commodity prices have dug into the miners’ profits but the weaker rand has helped mitigate bigger losses.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.33
(+0.14)
ZAR/GBP
20.42
(+0.35)
ZAR/EUR
18.19
(+0.11)
ZAR/AUD
11.23
(-0.13)
ZAR/JPY
0.15
(+0.43)
Gold
1801.76
(-1.87)
Silver
23.13
(-1.60)
Platinum
952.00
(+2.80)
Brent Crude
45.51
(+2.15)
Palladium
2359.00
(+0.80)
All Share
57807.55
(+1.16)
Top 40
53098.07
(+1.18)
Financial 15
11701.83
(+3.21)
Industrial 25
80346.93
(+0.54)
Resource 10
52445.20
(+1.30)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 318 votes
No, I did not.
51% - 750 votes
My landlord refused
27% - 404 votes
Vote