JSE drops while trade-war news remains in focus

The JSE was lower on Tuesday morning while global markets were mixed as traders continue to monitor developments in the US-China trade war.

Top US and Chinese trade negotiators had a phone call on Tuesday to discuss some of the crucial issues in the 16 month-long trade war, amid hope that a partial trade deal will be completed by the end of 2019.

Earlier, the Shanghai Composite was flat while Hong Kong’s Hang Seng was down 0.2% and Japan’s Nikkei 225 was up 0.35%. 

At 10.11am, the JSE all share was up down 0.41% to 56,515.9 points and the top 40 0.39%. Banks were down 1.35% while resources added 0.65%. 

Wescoal was down 0.83% to R1.19. The coal producer  on Tuesday reported a headline loss per share of 11.9c for the year to end-September, from headline earnings per share (HEPS) of 23.5c in the comparable period.

Transaction Capital added 2.25% to R21.81. It said on Tuesday that core HEPS increased 18% to 131.3c in the year to end-September.

Omnia was up 1.49% to R30.75 after the company said on Tuesday that it recorded an after-tax profit of R35m in the six months to end-September, from a loss of R93m in the previous period.  

[email protected]

Source: businesslive.co.za