JSE slips as focus shifts to US employment figures
The JSE opened lower on Friday as global markets await jobs data from the US amid talk that the Federal Reserve is likely to cut interest rates in 2019.
The US is expected to release its nonfarm payrolls for June, which measure the change in the number of jobs in the US over a month. Nonfarm payrolls are being closely watched amid speculation that the US Federal Reserve may cut interest rates later in July.
In Asia, the Shanghai Composite gained 0.19% and Japan’s Nikkei 225 0.3%, while Hong Kong’s Hang Seng was flat.
At 10.30am, the JSE all share had fallen 0.31% to 57,647,50 points and the top 40 0.32%. Resources were down 1.55% and platinum miners 0.19%.
EOH jumped 8.5% to R24.25 despite uncertainty about the outcome of a forensic investigation into its dealings with the government.
Aspen Pharmacare dropped 5.79% to R98.86 after the company said on Friday that it had terminated its discussions with a potential partner in Europe.
Comair climbed 9.09% to R4.20 after the commercial airlines company said its settlement with SAA helped push its earnings per share and headline earnings per share 20% higher for year ended June.
Naspers had gained 1.02% to R3,483.61.
No major company results are expected today. The Reserve Bank will publish data on its gold and foreign-exchange reserves
Source: businesslive.co.za
