JSE dips as Middle East tension weighs on risk appetite
The JSE was lower on Friday as global markets remained in negative territory after a US air strike in Iraq added to investor fears that tension in the Middle East could escalate.
Iranian military commander Maj-Gen Qassem Soleimani was killed during an air strike in Baghdad on Friday, the US confirmed. Iran’s supreme leader Ayatollah Seyed Ali Khamenei vowed “severe revenge” for Soleimani’s death, a move that further rattled markets amid fears about the effect the tension will have on the geopolitical environment.
Earlier, the Shanghai Composite was flat while Hong Kong’s Hang Seng was down 0.32% and Japan’s Nikkei 225 was closed.
In Europe, the FTSE 100 shed 0.33%, France’s CAC 40 0.49% and Germany’s DAX 1.33%.
At 11.50am, the JSE all share was down 0.23% to 57,586.7 points and the top 40 0.24%. Banks dropped 1.34% while gold miners climbed 4.36%.
Grindrod Shipping said on Friday it is making progress in negotiations to buy an additional 33.25% stake in the IVS Bulk joint venture, which will increase Grindrod Shipping’s stake to 66.75%. Its share price was flat at R93.20.
Source: businesslive.co.za
