JSE starts week lower

The JSE began the new week on a negative note, with broadbased losses on Monday as markets eyed risk events.

The rand was mixed against major global currencies, lacking clear direction.

Global market focus remains on trade-war risk, after US President Donald Trump said on Friday his administration was in position to levy additional tariffs on Chinese imports.

Domestic focus is on political dynamics within the ANC, as well as on economic data.

Manufacturing numbers for July are due on Tuesday, while that month’s retail sales data is due on Wednesday and mining production on Thursday.

The all share fell 0.62% to 56,715.3 points and the top 40 0.57%. Platinums fell 2.31%, general retailers 1.44% and food and drug retailers 1.08%.

AVI rose 1.33% to R113.14, after saying operating profit had risen 7% to R2.55bn and net profit 8% to R1.67bn.

Richemont gained 0.68% to R129.40, after saying that in the five months to end-August group sales rose 10% at constant exchange rates, and by 7% at actual exchange rates.

Afrox gained 1.74% to R29.30.

Media house Naspers fell 1.09% to R3,117.

The top 40 Alsi futures index fell 0.61% to 50,475 points.

The number of contracts traded was 18,766 from Friday’s 21,302. –